Most Asian stocks rose after reports showed U.S. employment and consumer sentiment improved, boosting confidence in a global economic recovery and driving commodity prices higher. Toyota Motor Corp., the world’s biggest carmaker, rose 1.1 percent in Tokyo. Billabong International Ltd., which is the world’s biggest maker of surfwear and counts the Americas as its largest market, jumped 1.9 percent in Sydney. Li & Fung Ltd., the largest supplier to retailers including Wal-Mart Stores Inc., surged to a record in Hong Kong. Jiangxi Copper Co., China’s biggest producer of the metal, climbed 1.3 percent. “The U.S. jobs data looks quite encouraging,” said Khiem Do, Hong Kong-based head of multi-asset strategy at Baring Asset Management (Asia) Ltd., which oversees $10 billion. “The market has remained resilient despite risks of a worsening European debt crisis, inflation concerns in China and escalating tensions in Korea. We could see more volatile trading ahead of the yearend holidays.” The MSCI Asia Pacific Index, rose 0.2 percent to 130.68 as of 5:20 p.m. in Tokyo, with five stocks advancing for every four that declined. The gauge has fallen 3.6 percent from a two-year high on Nov. 8 on speculation China will further tame inflation and concern that a debt crisis in Europe will spread. Japan’s Nikkei 225 Stock Average gained 0.5 percent even after a government report showed export growth slowed more than forecast in October. China’s Shanghai Composite Index advanced 1.3 percent. Hong Kong’ Hang Seng Index and South Korea’s Kospi Index rose 0.1 percent. Taiwan’s Taiex Index climbed 0.6 percent. Australia, Thanksgiving Australia’s S&P/ASX 200 Index advanced 0.2 percent. The statistics office said business investment rose twice as fast as economists expected in the three months through September, as miners expanded production to meet higher demand from Asia. Most major benchmark equity indexes in the Asia-Pacific region moved less than 1 percent. U.S. markets are closed today for the Thanksgiving holiday. Futures on the Standard & Poor’s 500 Index slipped 0.2 percent. The S&P 500 rose 1.5 percent yesterday, the most in four days, after the U.S. Labor Department said jobless claims fell to 407,000 last week. The median projection of economists surveyed by Bloomberg News was for a drop to 435,000. The Thomson Reuters/University of Michigan final index of November consumer sentiment increased to 71.6, the highest level since June and exceeding the median economist estimate of 69.5. ‘Certainly Improving’ “The global economy is certainly improving, so we don’t have to be pessimistic about the economic outlook,” said Hideaki Higashi, a strategist in Tokyo at SMBC Friend Securities Co. “The market should become more active.” Gauges of consumer discretionary and information-technology companies advanced the most among the 10 industry groups in the MSCI Asia Pacific Index. Toyota climbed 1.1 percent to 3,305 yen. Li & Fung surged 5.2 percent to HK$45.80 in Hong Kong, its highest close on record. Billabong jumped 1.9 percent to A$8.60. Sony Corp., a Japanese electronics maker that gets 70 percent of its sales abroad, rose 0.8 percent to 2,894 yen. Catcher Technology Co., a maker of computer casings, surged 5.8 percent to NT$91.5 in Taipei. Macquarie Group Ltd. raised its share-price forecast to NT$104 from NT$90 and maintained its “buy” rating.’ HTC Corp., a Taiwanese maker of handsets, advanced 2.2 percent to NT$845. Citigroup Inc. raised the company’s share-price estimate to NT$975 from NT$800 and maintained its “buy” rating. Copper, Oil The MSCI Asia Pacific Index increased 8.2 percent this year to yesterday, compared with gains of 7.5 percent by the S&P 500 and 4.9 percent by the Stoxx Europe 600 Index. Stocks in the Asian benchmark are valued at 14.3 times estimated earnings on average, compared with 14.1 times for the S&P 500 and 11.9 times for the Stoxx 600. Shares of commodity suppliers advanced after crude oil for January delivery surged 3.2 percent yesterday in New York to $83.86 a barrel, the biggest gain since July 22. The London Metal Exchange Index of prices for six industrial metals including copper and aluminum increased 1.4 percent yesterday after three days of losses. Jiangxi Copper increased 1.3 percent to HK$22.90 in Hong Kong. China Shenhua Energy Co., the nation’s biggest coal producer, gained 0.8 percent to HK$33.75. Mitsubishi Corp., which gets more than half of sales from commodities, climbed 0.6 percent to 2,128 yen in Tokyo. Rio Tinto Group, the world’s third-biggest mining company, rose 0.7 percent to A$83.05 in Sydney. Also in Sydney, Telstra Corp., Australia’s former telephone monopoly, climbed 3.6 percent to A$2.88. Australian lawmakers are debating laws related to splitting Telstra’s businesses, with a vote expected today. To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net; To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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