Macquarie Group Ltd. gained in Sydney and Kookmin Bank climbed in Seoul after UBS AG upgraded U.S. bank stocks, citing ``reduced systemic risks.''
Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. led a measure of Japanese banks to the highest this year on optimism lending rates will rise. Samsung Electronics Co., Asia's largest maker of chips, advanced in Seoul after brokerages lifted share price estimates.
The MSCI Asia Pacific Index gained 0.8 per cent to 150.45 as at 5:20 pm in Tokyo, its highest since January 15. Financial stocks climbed the most among the gauge's 10 industry groups. Most of Asia's benchmark indexes advanced.
Japan's Nikkei 225 stock average rose 0.2 per cent to 13,894.37 after earlier exceeding 14,000 for the first time since February 27.
China's CSI 300 Index fell for the first time in five days, led by China Life Insurance Co, on concern that declining returns from equity investments and rising costs would hurt profit.
Europe
European stocks rose for a second week, led by technology companies and drugmakers, after Ericsson AB and Bayer AG reported better-than-estimated earnings and UCB SA won US approval for a new Crohn's disease medicine.
The Dow Jones Stoxx 600 Index added 0.3 per cent to 321.70, extending last week's 3.2 per cent advance. The measure has fallen 12 per cent this year on concern more than $290 billion in losses related to the collapse of the US subprime-mortgage market will drag down global economic growth.
National benchmarks gained in 12 of 18 western European markets last week. Germany's DAX Index added 0.8 per cent, while France's CAC 40 rose 0.3 per cent. The UK's FTSE 100 climbed 0.6 per cent. The Stoxx 50 advanced 0.4 per cent, while the Euro Stoxx 50, a measure for the euro region, declined 0.4 per cent.
US
US stocks posted the first back-to-back weekly gains since February. The S&P 500 rose 0.5 per cent to a three-month high of 1,397.84 last week, paring its 2008 decline to 4.8 per cent.
The Dow average added 0.3 per cent to 12,891.86. The Russell 2000 Index of companies climbed 0.1 per cent to 721.88.
