Asian Stocks Gain for First Time in Four Days on Lower Oil

By Chua Kong Ho

Aug. 6 (Bloomberg) -- Asian stocks rose for the first time in four days after oil fell to a three-month low and the Federal Reserve predicted inflation will ease through next year.

Toyota Motor Corp. and Korea Air Lines Co. climbed on speculation cheaper oil will spur demand and lower costs. Sony Corp. advanced after saying it will buy out Bertelsmann AG to gain full control of the world's second-largest record company. Commonwealth Bank of Australia led financial stocks higher.

The MSCI Asia-Pacific Index gained 1.3 percent to 128.80 as of 9:19 a.m. in Tokyo, snapping a three-day decline. About six stocks rose for each that declined, and nine of the index's 10 industry groups advanced.

Japan's Nikkei 225 Stock Average climbed 1.8 percent to 13,150.02. Australia's S&P/ASX 200 Index added 2.8 percent, the most in two weeks, and South Korea's Kospi Index rose 2.4 percent.

U.S. stocks rallied the most since April, sending the Standard & Poor's 500 Index to a 2.9 percent gain, as oil fell and the Fed predicted inflation will ease. S&P 500 index futures were little changed today.

Oil dropped $2.81 to $118.60 a barrel yesterday on speculation demand may be reduced by economic slowdowns in the U.S. and Europe. Oil has lost more than $28 since touching a record $147.27 a barrel on July 11.

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