By Patrick Rial and Ian Sayson Oct. 21 (Bloomberg) -- Asian stocks climbed, led by producers of energy and consumer goods, after OPEC signaled it may cut oil output and optimism grew that the U.S. government will expand efforts to boost economic growth. Woodside Petroleum Ltd. jumped 7.3 percent as crude rose for a third day. Honda Motor Co., which gets more than half its sales in North America, advanced 6.6 percent after Federal Reserve Chairman Ben S. Bernanke said he'd back a stimulus package. Hyundai Development Co. added 5.8 percent after a newspaper said the South Korean government will give $9.1 billion to aid builders. Indonesia's PT Bank Ekonomi Raharja gained by its 10 percent limit after HSBC Holdings Plc bought a controlling stake. ``Confidence is coming back into the markets,'' said Nader Naeimi, a Sydney-based senior investment strategist at AMP Capital Investors, which manages about $108 billion. ``There's more risk appetite now and investors are buying back extremely depressed assets.'' The MSCI Asia Pacific Index gained 1.4 percent to 91.92 as of 12:45 p.m. in Tokyo, rising for a third day, its longest winning streak since July 24. The gauge is still down 41 percent for the year, set for its worst annual performance since the index was created in 1987, as credit market turmoil toppled financial institutions and slowed global economic growth. Japan's Nikkei 225 Stock Average added 2.6 percent to 9,238.59, extending its advance from a five-year low on Oct. 10 to 12 percent. Australia's S&P/ASX 200 Index gained 2.4 percent. Rio Tinto Group rose after saying it may sell a coal unit. Currency Bets Gains in Hong Kong were capped as Citic Pacific Ltd., the Hong Kong arm of China's biggest investment company, plunged 45 percent after saying it may lose $2 billion on currency bets. Futures on the Standard & Poor's 500 Index fell 0.6 percent. The S&P 500 jumped 4.8 percent yesterday after Halliburton Co.'s profit topped estimates and Exelon Corp. offered $6.2 billion for NRG Energy Inc. Woodside climbed 7.3 percent to A$41.09. BHP Billiton Ltd., Australia's biggest oil producer, rose 7.4 percent to A$28.45. Mitsui & Co., Japan's second-largest trading company and which generates more than half its profits from commodities dealing, surged 7.8 percent to 1,077 yen after JPMorgan Chase & Co. raised the shares to ``buy.'' Crude oil rose for a third day, gaining as much as 1.9 percent to $75.69, on signs the Organization of Petroleum Exporting Countries may cut output to halt a 50 percent drop in prices since July. Gold and platinum prices advanced in New York, while copper fell. Rio Tinto Group, which is fending off a $70 billion hostile bid from BHP Billiton Ltd., increased 8.4 percent to A$71.85. The company said the sale of its Energy America coal unit may proceed this year. Honda, Canon Stocks also gained after Bernanke said lawmakers should consider new measures to improve access to credit for consumers, homebuyers and businesses, and Japan's government was reported to be finalizing an economic stimulus package that includes tax cuts. Honda gained 5 percent to 2,395 yen. Canon Inc., the world's largest seller of digital cameras, jumped 4.6 percent to 3,430 yen. Sony Corp., the maker of the PlayStation 3 game console, advanced 3.1 percent to 2,705 yen. Japan's ruling parties have agreed to a 2 trillion yen ($19.6 billion) tax cut for individuals that would save a typical household of four about 65,000 yen per year, according to reports in the Mainichi and Nikkei newspapers. ``Investors are taking notice of the determination by governments to bolster economies,'' said Masaru Hamasaki, a senior strategist at Toyota Asset Management Co., which manages the equivalent of $3.3 billion. Korean Builders South Korean construction companies advanced after the Korea Economic Daily reported the government will announce a 12 trillion won ($9.1 billion) aid package to the country's builders to help ease a cash squeeze. Hyundai Development, a home builder, gained 5.8 percent to 30,800. Daelim Industrial Co., a home builder and chemicals maker, rose 6.1 percent to 41,800 won. Bank Ekonomi, an Indonesian lender to traders and restaurants, surged by its 10 percent trading limit to 2,090 rupiah. HSBC agreed to pay $607.5 million for an 88.9 percent stake in the bank. Malaysia's Malayan Banking Bhd. rose 1.9 percent to 5.40 ringgit after offering to pay 510 rupiah per share for the 44 percent of PT Bank Internasional Indonesia it doesn't already own. Fubon, Citic Fubon Financial Holding Co., Taiwan's second-largest financial services company, jumped 6.8 percent to NT$20.35 after the Commercial Times said it plans to acquire Jih Sun Financial Holdings Co. in a share swap to expand its business in the equity brokerage market. Fubon yesterday agreed to buy the local life insurance unit of ING Groep NV for $600 million. Jih Sun advanced 6.8 percent. Citic Pacific sank 45 percent to HK$8.05, set for its biggest drop since the shares began trading in 1990. The company ousted two executives and said it would secure a $1.5 billion loan from its parent, after incurring as much as $2 billion in losses after unauthorized bets on the Australian dollar. Citic Pacific bought currency contracts to fund a A$1.6 billion ($1.1 billion) iron ore mine in Australia, the company said. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. cut their ratings on Citic Pacific shares to ``sell'' or ``underperform.'' All of them also cut their target prices. To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net; Ian C. Sayson in Manila at isayson@bloomberg.net.

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