By Masaki Kondo Nov. 10 (Bloomberg) -- Japan shares rose for the first time in three days, led by machinery and shipping companies, after China announced a stimulus plan worth almost a fifth of its economy, joining global efforts to stave off a recession. Komatsu Ltd. and Hitachi Construction Machinery Co., Asia's largest makers of earthmovers, soared more than 12 percent after China pledged part of a 4 trillion-yuan ($586 billion) spending package to improve infrastructure. Nippon Yusen K.K., Japan's largest shipping line, jumped 8.6 percent after the Group of 20 nations called for interest-rate cuts and higher government spending. Sony Corp. rose 6.7 percent after the yen weakened. The Nikkei 225 Stock Average climbed 502.44, or 5.9 percent, to 9,085.44 as of 2:09 p.m. in Tokyo. The broader Topix index rose 38.74, or 4.4 percent, to 917.74. All 33 industry groups on the Topix advanced. ``China's stimulus plan can shore up the nation's economy and soothe concern among investors that the global slowdown will worsen,'' said Mitsushige Akino, who oversees about $468 million at Tokyo-based Ichiyoshi Investment Management Co. ``Machinery makers, shippers and commodity stocks have been oversold. If you're not overly pessimistic on the global economy, their prices are low enough to buy in for long-term returns.'' China's State Council yesterday announced a spending plan equivalent to almost a fifth of last year's gross domestic product, ranging from tax deductions for equipment purchases to infrastructure investment. The same day, the Group of 20 nations said it's ready to act ``urgently'' to bolster growth, and that governments should use all measures at their disposal to do so. Chinese Infrastructure Japanese machinery orders rose 5.5 percent in September, the Cabinet Office said today, an increase the government described as a ``weak rebound.'' Economists predicted a 5.2 percent gain. Komatsu leapt 13 percent to 1,265 yen, while smaller rival Hitachi Construction Machinery soared 19 percent to 1,252 yen, making it the biggest winner on the MSCI World Index. Tractor maker Kubota Corp. soared 17 percent to 548 yen, even after cutting its annual profit forecast by 7.9 percent. Five of the 10 biggest gainers on the Nikkei were machinery makers. China's package, of which 100 billion yuan is earmarked for this quarter, will go toward low-rent housing, infrastructure in rural areas, as well as roads, railways and airports. Nippon Yusen jumped 8.6 percent to 494 yen, while closest rival Mitsui O.S.K. Lines Ltd. gained 13 percent to 526 yen. A gauge of shippers, today's biggest winner among the Topix's 33 industry groups, had lost 55 percent on the year through Nov. 7, the worst performer among groups on the broader index. China's stimulus package reinvigorated investor appetite for riskier assets, causing the yen to weaken against the dollar to as much as 99.37 today from 97.50 at the close of stock trading in Tokyo on Nov. 7. The Japanese currency depreciated against the euro to as much as 127.91 from 124.13. A weaker yen boost the value of Japanese companies' overseas sales. Sony, Shionogi Sony, an electronics maker that gets a quarter of its sales from the U.S., surged 6.7 percent to 2,325 yen. Canon Inc., the world's biggest digital-camera maker, rose 6.1 percent to 3,470 yen, while Olympus Corp., an endoscope maker that counts Europe as its biggest overseas market, added 11 percent to 1,783 yen. Drugmaker Shionogi & Co. jumped 12 percent to 2,075 yen after a study showed its Crestor pill cut the risk of heart attacks in people with low cholesterol, potentially expanding uses for the treatment. Nikkei futures expiring in December added 5.1 percent to 9,100 in Osaka and gained 5.6 percent to 9,100 in Singapore. To contact the reporter for this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net.

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