Posco climbed in Seoul after Lehman raised its share-price forecast. BHP Billiton gained in Sydney after copper and zinc rose in London on May 30 for the first time in three days. Mizuho Financial Group led gains in Tokyo on speculation that banks would be able to boost profits by raising interest rates.
The MSCI Asia Pacific Index added 1.1 per cent to 151.77 as at 5:38 pm in Tokyo, extending a two-day, 2.1 per cent rally. A measure of raw-material suppliers increased 1.7 per cent, the biggest gain among 10 industry groups.
Japan's Nikkei 225 Stock Average climbed 0.7 per cent to 14,440.14, erasing earlier losses of 1 per cent. Sony advanced after Goldman Sachs Group upgraded the stock.
About half of the benchmark indexes open for trading gained. Thailand's SET Index posted the region's largest loss after anti-government protesters staged a street rally for the eighth day.
Europe
European stocks fell for the first time in four days as Bradford & Bingley said it will raise capital, reviving concern credit losses are spreading. US index futures dropped.
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Europe's Dow Jones Stoxx 600 Index lost 1.2 per cent to 318.14 at 10:14 am in London, extending the decline from a six-year high in June to 21 per cent as concern deepened near-record oil prices and $387 billion in credit-related losses and writedowns at banks will slow economic growth.
Futures on the Standard & Poor's 500 Index fell 0.4 per cent before a report that will probably show manufacturing contracted for a fourth month.
National indexes declined in all 16 western European markets that were open. France's CAC 40 slipped 1.5 per cent, and Germany's DAX sank 1 per cent. The UK's FTSE 100 slid 0.9 per cent.
US
US stocks rose this week, sending the Standard & Poor's 500 Index to its second straight monthly advance, after the government said economic growth accelerated and oil dropped the most since March.
The S&P 500 rose 1.8 per cent to 1,400.38. The Dow Jones Industrial Average added 1.3 per cent to 12,638.32. The Nasdaq Composite Index increased 3.2 per cent to 2,522.66. The Russell 2000 Index of small-cap stocks climbed 3.3 per cent to 748.28.