Asian stocks rose for a second day as the region’s automakers strengthened their grip on the U.S. car market and memory-chip prices advanced. Hyundai Motor Co. and Kia Motors Corp. jumped more than 8 percent as Asia’s carmakers boosted their share of the U.S. market to a record 49.5 percent in January. Samsung Electronics Co., the world’s largest computer-memory maker, gained 5.1 percent in Seoul after chip prices rose to the highest in more than three months. Mitsui O.S.K. Lines Ltd. paced gains among shipping lines as transport rates climbed for an 11th day. “Asia can recover faster than the rest of the world,” said Khiem Do, a Hong Kong-based strategist at Baring Asset Management, which manages $6 billion in Asia. “Since global markets plunged in September, Asia has done better and will continue to outperform.” The MSCI Asia Pacific Index rose 1 percent to 82.75 as of 12:58 p.m. in Tokyo, with more than two stocks advancing for each that fell. The gauge has dropped 34 percent since the end of August as the credit crisis triggered the collapse of Lehman Brothers Holdings Inc. That’s better than the MSCI World Index’s 37 percent decline. Japan’s Nikkei 225 Stock Average climbed 2.2 percent. All benchmark indexes advanced except Australia’s, which fell on concern more companies will seek to raise capital. Elpida Memory Inc., Japan’s largest computer memory-chip maker, gained 6.1 percent after saying it may seek public funds to shore up its capital. Westfield Group, the world’s biggest shopping-center owner by market value, slumped 14 percent in Sydney after selling shares at a discount to reduce debt. Government Action Futures on the Standard & Poor’s 500 Index added 0.3 percent. The gauge added 1.6 percent yesterday as Treasury Secretary Timothy Geithner said the government will step up efforts to fight the recession and as a report showed pending home sales rose in December for the first time since August. Governments around the world are boosting efforts to revive a global economy burdened by $1 trillion of losses tied to the credit crisis. Australian retail sales rose in December by the most in more than eight years as the government handed out cash grants to families and pensioners, a report today showed. The MSCI gauge is down 7.5 percent in 2009 amid mounting signs the global recession is pummeling corporate profits. Stock declines in the past year have dragged the average valuation of companies on MSCI’s Asian gauge down by 30 percent to 12 times reported profit. Hyundai Motor jumped 8.2 percent to 52,000 won. Kia climbed 10 percent to 8,850 won. Hyundai’s U.S. sales gained 14 percent in January, while Kia’s rose 3.5 percent. The automakers defied lower demand to help Asian brands grab almost half of the U.S. market. The share of U.S. rivals dropped to a record low 42.5 percent. Chip Prices Toyota Motor Corp., the world’s largest automaker, gained 4.9 percent to 3,020 yen in Tokyo. Its U.S. sales slid 32 percent, less than General Motors Corp.’s 49 percent drop and Ford Motor Co.’s 40 percent slump. “At this point, we are seeing a range-bound market, which is reacting to positive news flow,” said Steven Lim, who manages $300 million at Daiwa SB Investments in Singapore. “If we are again hit by negative news there could be more downside.” Samsung gained 5.1 percent to 515,000 won. Hynix Semiconductor Inc., the world’s second-largest computer memory maker, rose 4.5 percent to 9,520 won. Average prices of the benchmark dynamic random access memory chips rose 3.7 percent to $1.12 yesterday, the highest since Oct. 14, according to Dramexchange Technology Inc., Asia’s largest spot market for the chips. Prices have gained as German chipmaker Qimonda AG’s insolvency filing boosted optimism that a glut of supply will ease. Baltic Dry Elpida, Japan’s largest computer memory-chip maker, gained 6.1 percent to 647 yen. Japan’s Cabinet yesterday approved a bill for troubled non-financial institutions to obtain public funding, which Elpida said it “will consider using” if it’s passed into law. Mitsui O.S.K, operator of Japan’s largest fleet of iron-ore ships, added 3.6 percent to 605 yen. STX Pan Ocean Co. Ltd., South Korea’s biggest bulk carrier, rose 5.1 percent to 11,300 won in Seoul. The Baltic Dry Index, which tracks the cost of shipping commodities like iron ore, added 4.5 percent in London yesterday, extending its best start to a year since at least 1986 on demand to haul iron to China. Hanjin Shipping Co., South Korea’s largest shipping line, jumped 4.6 percent to 21,800 won. The company said 2008 net income more than doubled on a 35 percent increase in sales. Westfield slumped 14 percent to A$10.39 after raising A$2.9 billion ($1.9 billion) selling shares at A$10.50 apiece.

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