By Jonathan Burgos and Yoshiaki Nohara - Dec 21, 2011 7:33 AM GMT+0700
Dec. 20 (Bloomberg) -- Andrew Milligan, head of global strategy at Standard Life Investments, discusses investment themes for 2012 and the global economic outlook. He speaks with Maryam Nemazee on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)
Dec 20 (Bloomberg) -- Scott Wren, senior equity strategist at Wells Fargo Advisors, discusses the outlook for the global economy and equity markets. Wren speaks with Lisa Murphy and Dominic Chu on Bloomberg Television's "In the Loop." (Source: Bloomberg)
Asian stocks (MXAP) rose for a second day, with a benchmark index poised for the biggest gain in two weeks, after U.S. housing starts increased more than economists forecast, boosting the earnings outlook for Asia’s exporters.
Honda Motor Co., Japan’s second-largest carmaker by market value that gets about 44 percent of its sales from North America, advanced 2.2 percent in Tokyo. James Hardie Industries SE (JHX), a maker of building materials that counts the U.S. as its biggest market, climbed 2.6 percent in Sydney. BHP Billiton Ltd. (BHP), Australia’s No. 1 oil producer and the world’s largest miner, jumped 2.9 percent after crude and copper prices rose.
“The U.S. is showing it’s fairly robust in terms of not being dragged down to the extent of European economies, but there remain significant structural impediments,” said Tim Schroeders, who helps manage $1 billion in equities at Pengana Capital Ltd. in Melbourne. “There will be significant gains today. The question is, given we are coming into a holiday period, how sustainable those gains are going to be over the next week or so.”
The MSCI Asia Pacific Index advanced 1.1 percent, to 112.17 as of 9:29 a.m. in Tokyo, with more than nine shares rising for each that fell. The gauge dropped to a three-week low on Dec. 19 after North Korean leader Kim Jong Il died and Fitch Ratings said it may cut the credit ratings of European nations.
To contact the reporters on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net; Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net.
To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net
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