By Jonathan Burgos - Dec 20, 2011 7:36 AM GMT+0700
Dec. 20 (Bloomberg) -- Charles Kim, a New York-based director of Mirae Asset Securities Co., talks about the outlook for South Korean stocks following the death of North Korean dictator Kim Jong Il. He speaks with John Dawson on Bloomberg Television's "First Up." (Source: Bloomberg)
Asian stocks (MXAP) rose after Federal Reserve Bank of Richmond President Jeffrey Lacker predicted the U.S. economy will grow 2 percent to 2.5 percent next year, boosting the outlook for the region’s exporters.
James Hardie Industries SE, the supplier of building materials that counts the U.S. as its biggest market, added 1.1 percent in Sydney. Honda Motor Co. (7267), the Japanese carmaker that gets about 44 percent of sales from North America, climbed 2.8 percent in Tokyo as it resumed production in the U.K. and announced plans to double factory capacity. Inpex Corp., Japan’s largest energy explorer, rose 2 percent as crude oil futures advanced for a second day.
The MSCI Asia Pacific Index added 0.2 percent to 110.63 as of 9:34 a.m. in Tokyo, with about three shares advancing for every two that fell in the measure. The gauge fell to a three- week low yesterday 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:
Masaaki Iwamoto in Tokyo at miwamoto4@bloomberg.net
To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net
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