Asia breaks loss run

GLOBAL MARKETS/ STOCK REPORT

Asian stocks rose for the first time in four days, led by financial shares, after China Merchants Bank said profit doubled.

China Construction, the nation's second-largest bank, jumped the most in almost two months in Hong Kong. Fubon Financial Holding led Taiwanese financial companies higher after the Economic Daily News reported they may be allowed to buy stakes in China's banks.

"Earnings from major Chinese financial companies have beaten market expectations by as much as 10 per cent," said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management in Shanghai. "That has provided a short-term boost."

The MSCI Asia Pacific Index added 0.3 per cent to 153 as of 3:25 pm in Tokyo, following a three-day, 3.4 per cent drop. More than three stocks climbed for every two that retreated. Japan's Nikkei 225 Stock Average rose 0.2 per cent to 14,528.67.

EUROPE
European stocks rose for the first time in five days, led by mining companies and airlines, as copper advanced and Air France-KLM Group reported passenger traffic increased last month.

Anglo American and BHP Billiton led metal producers higher. Air France rebounded from a seven-week low. Michael Page International gained after the recruitment company's profit beat analysts' estimates. UniCredit SpA advanced after Deutsche Bank AG recommended buying shares in Italy's largest bank.

The Dow Jones Stoxx 600 Index added 0.7 per cent to 354 at 8:05 am in London, snapping a four-day drop, the longest losing streak since July. The Stoxx 50 increased 0.6 per cent, while the Euro Stoxx 50, a measure for the euro region, rose 0.5 per cent.

Anglo American, the world's second-largest mining company, gained 1.1 per cent to 2,932 pence. BHP Billiton, the largest, rallied 1.5 per cent to 1,513 pence. Rio Tinto, the third- biggest, advanced 1.4% to 5,104 pence. US
US stock-index futures advanced on speculation that a report on sales of previously owned homes will give the Federal Reserve more reason to reduce interest rates.

Starbucks Corp. gained in Europe after the world's largest chain of coffee shops replaced its chief executive officer with former CEO and Chairman Howard Schultz. Bear Stearns rose after a person with direct knowledge of the matter said CEO James Cayne plans to resign.

Standard and Poor's 500 Index futures expiring in March climbed 6.2 points to 1,428 as of 10:23 am in London. Dow Jones Industrial Average futures increased 29 points to 12,907.

Nasdaq-100 Index futures rose 8.5 points to 1,983.75.