By Chen Shiyin and Chua Kong Ho
July 7 (Bloomberg) -- Asian stocks rose, led by Chinese banks and developers, after China Merchants Bank Co. forecast higher profits and a newspaper reported the government may act to stabilize the property market.
China Merchants, the nation's most profitable bank, rose the most in three months. Guangzhou R&F Properties Co. had its biggest gain since February. BHP Billiton Ltd., the world's largest mining company, declined along with metal prices.
``Fundamentals are very strong in China compared to any other Asian nation,'' Liu Yang, managing director at Atlantis Investment Management Ltd. in Hong Kong, which oversees about $4 billion in assets, said in a Bloomberg Television interview.
The MSCI Asia-Pacific Index gained 0.5 percent to 133.43 at 12:57 p.m. Tokyo time, after earlier dropping 0.6 percent. Nine of the benchmark's 10 industry groups advanced. The measure has tumbled 16 percent this year.
Japan's Nikkei 225 added 0.9 percent to 13,355.70, halting a 12-day, 8.4 percent decline that was the longest retreat since 1954, when the end of the Korean War caused a decrease in Japanese industrial sales to the U.S. military.
To contact the reporter for this story: Chua Kong Ho at in Shanghai or kchua6@bloomberg.net; Chen Shiyin in Singapore at schen37@bloomberg.net.
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