By Jonathan Burgos
July 15 (Bloomberg) -- Asian stocks rose for a second day after Intel Corp.’s sales forecast exceeded analyst projections, Goldman Sachs Group Inc. reported record earnings and metal prices climbed.
Samsung Electronics Co., the world’s second-largest maker of semiconductors after Intel, jumped 4.4 percent in Seoul on optimism demand for personal computers is recovering. Advantest Corp., the world’s biggest maker of memory-chip testers, climbed 2.3 percent in Tokyo. Macquarie Group Ltd., Australia’s largest investment bank, added 2 percent in Sydney. Rio Tinto Ltd., the world’s third-largest mining company, rose 2.2 percent.
Intel’s forecasts and Goldman’s profit “indicate company earnings here won’t be as bad as some fear and investors will likely react favorably to the reports,” said Hiroichi Nishi, an equities manager at Tokyo-based Nikko Cordial Securities Inc.
The MSCI Asia Pacific Index added 0.4 percent to 100.93 in Tokyo at 9:42 a.m. in Tokyo, adding to yesterday’s 2.5 percent gain. The gauge has rallied 43 percent from a five-year low on March 9 on optimism government stimulus policies will revive the global economy.
Japan’s Nikkei 225 Stock Average rose 0.6 percent to 9,314.70. South Korea’s Kospi Index climbed 2.2 percent, while Australia’s S&P/ASX 200 Index advanced 0.9 percent.
Futures on the Standard & Poor’s 500 Index climbed 0.9 percent. The gauge added 0.5 percent yesterday as a government report showed retail sales advanced 0.6 percent last month from May, exceeding the 0.4 percent gain projected by economists.
To contact the reporter for this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net.
Posts
No comments:
Post a Comment