BHP, the world's largest mining company, surged to a record in Sydney. Nippon Telegraph & Telephone climbed by the daily limit in Tokyo after raising its dividend by 22 per cent and Astellas Pharma, Japan's second-biggest drugmaker, gained after saying it will spend as much as 40 billion yen ($382 million) to buy its stock.
he MSCI Asia Pacific Index dropped 0.1 per cent to 149.74 as of 7:06 pm in Tokyo, paring earlier declines of as much as 0.7 per cent. About three stocks rose for every two that dropped. A measure of raw-material producers, the only one of the index's 10 industry groups to advance this year, climbed 1.6 per cent on Wednesday, the most in three weeks.
Japan's Nikkei 225 Stock Average added 1.2 per cent to 14,118.55. All Asian benchmark indexes advanced apart from New Zealand, Singapore and Hong Kong.
Europe
Stocks in Europe and Asia rose as BNP Paribas SA and European Aeronautic, Defence & Space posted earnings that beat analysts' estimates and mining shares rallied on takeover speculation.
Europe's Dow Jones Stoxx 600 Index advanced 0.2 per cent to 326.07 as of 10:38 am, trimming losses from a six-and-a-half-year high reached on June 1 to 18 per cent.
Stocks pared gains in Europe after the Bank of England said inflation will accelerate, holding policy makers back from cutting interest rates further.
US
Most US stocks rose as record oil prices boosted energy shares and speculation grew that Yahoo! and Clear Channel Communications will be acquired.
The S&P 500 slipped 0.54 point, or less than 0.1 per cent, 1,403.04, pulled lower by banks after Moody's said the Aaa credit ratings of bond insurers MBIA and Ambac Financial Group may be in jeopardy.
The Dow average decreased 44.13, or 0.3 per cent, to 12,832.18. The Nasdaq added 6.63, or 0.3 per cent, to 2,495.12.
