Winning streak stays continues

GLOBAL MARKETS/ STOCK REPORT

Asian stocks advanced for a sixth day, the longest winning streak in almost eight months, after prices of computer-memory chips jumped and a report today showed Japan's export growth almost doubled in May.

Samsung Electronics Co and Toshiba Corp paced technology shares higher, helping the Morgan Stanley Capital International Asia Pacific Index to a record. China Mobile led Hong Kong's Hang Seng Index to a new high after the Chinese government gave its approval for mainland brokerages to buy shares overseas.

The MSCI index added 0.4 per cent to 154.46 as of 7:28 p.m. in Tokyo, after climbing 2.9 per cent in the previous five trading sessions. The measure last rose for six days in a row in the period ended October 27.

Japan's Nikkei 225 Stock Average added 0.2 per cent to 18,240.30, its highest since May 2000. Benchmarks in Australia and Thailand were the only fallers among the region's 10 biggest markets. China's CSI 300 Index also climbed to a new high.

Europe
European stocks fell the most in two weeks as rising bond yields in the US and Europe pushed banks, insurers and retailers lower. Deutsche Bank AG, Germany's biggest bank, and Brit Insurance Holdings Plc paced the drop.

Tesco Plc, the UK's biggest retailer, and Debenhams Plc also declined. Nokia Oyj, the world's biggest maker of mobile phones, slid after Goldman, Sachs & Co cut its recommendation on the shares to "neutral".

The Dow Jones Stoxx 600 Index fell 0.7 per cent to 395.21 at 11:20 a.m. in London, the biggest slide since June 7. All 18 industry groups dropped.

The Standard & Poor's 500 Index had its steepest drop in two weeks yesterday after the yield on the 10-year US Treasury note rose. Yields on the German bund climbed to near a five-year high today.

US
US stock-index futures climbed as investors speculated a manufacturing report will indicate economic growth is picking up.

Dow Jones & Co, the owner of the Wall Street Journal, gained in Europe on expectations takeover talks with News Corp. might speed up after the publisher's directors took control of discussions and a new bidder emerged. Shares of Oakley jumped after the US sunglassmaker agreed to be acquired by Luxottica Group SpA for $2.03 billion in cash.

US financial stocks slid yesterday on higher bond yields, which influence rates for mortgages and corporate loans, sending the Standard & Poor's 500 Index to its steepest drop in two weeks.

Investors today said increasing yields also suggest economic growth is accelerating.

S&P 500 Index futures expiring in September climbed 2.2 to 1529.20 at 11:13 a.m. in London. Dow Jones Industrial Average futures added 15 to 13,623. Nasdaq-100 Index futures increased 3 to 1950.75.