Asian Stocks Gain, Reversing Decline; Banks, Steelmakers Climb

By Chua Kong Ho

July 10 (Bloomberg) -- Asian stocks rose, reversing earlier declines, led by financial companies and steelmakers.

Industrial & Commercial Bank of China Ltd. gained in Hong Kong and Posco, Asia's third-biggest steelmaker, surged the most in two months in Seoul.

The MSCI Asia-Pacific Index advanced 0.5 percent to 132.61 at 1:15 p.m. Tokyo time, reversing a loss of 0.6 percent.

Japan's Nikkei 225 Stock Average rose 0.5 percent to 13,120.50.

To contact the reporter for this story: Chua Kong Ho at in Shanghai or kchua6@bloomberg.net;