i Develop Stocks Advisory

Asian Stocks Gain, Led by BHP and Inpex; Japan's Millea Drops Asian stocks advanced, led by BHP Billiton Ltd. after oil and metals prices climbed. BHP gained after copper prices rose to a three-month high. Inpex Holdings Inc., Japan's largest oil and gas explorer, jumped the most in five months after raising its profit forecast. Esprit Holdings Ltd. led Hong Kong retailers higher on speculation a reported increase in tax relief will boost consumer spending in the city. Millea Holdings Inc. led a decline among Japanese insurers on concern credit-losses may widen. ``We still prefer the resources and energy-related sectors because there is a window of opportunity there,'' said Beat Lenherr, who helps oversee about $20 billion as Singapore-based chief global strategist at LGT Capital Management. ``The aftershock of the credit crisis will be felt on the companies' balance sheets, and the insurance industry will obviously be affected.'' The MSCI Asia Pacific Index rose 0.5 percent to 139.93 at 12:37 p.m. in Tokyo, after earlier dropping 0.4 percent. The measure declined 2 percent in the previous two sessions. All Asian benchmarks gained apart from Taiwan. The Nikkei 225 Stock Average gained 0.1 percent to 13,032.25 in Japan, where markets were closed yesterday. Hong Kong's Hang Seng Index surged 1.6 percent, snapping a three-day, 9.7 percent decline. The city's government will cut income tax and boost tax- free allowances in this year's budget, the Hong Kong Economic Times reported, citing sources it didn't identify. Millea and Mitsui Sumitomo Insurance Co., Japan's two biggest insurers, dropped after American International Group Inc.'s auditors said faulty accounting may have understated losses. Sega Sammy, Asics Sega Sammy Holdings Inc. was the biggest decliner on the MSCI Asian index after the amusement center operator forecast a full-year loss. Asics Corp. plunged by the daily 15 percent limit after cutting its profit forecast. U.S. stocks climbed yesterday, led by energy shares. The Standard & Poor's 500 Index added 0.6 percent, recouping part of last week's 4.6 percent decline. AIG fell the most since 1987 as auditors said they found weakness in the insurer's accounting for credit-default swaps. BHP, the world's largest mining company, rose 1.9 percent to A$36.53. Mitsui & Co., Japan's second-biggest trading company, jumped 5.1 percent to 2,180 yen. Crude oil for March delivery climbed 2 percent in New York yesterday to $93.59 a barrel, a one-month high. Futures jumped 5.3 percent in the previous two sessions. Copper futures rose in New York to as much as $3.599 a pound, the highest for a most- active contract since Oct. 22. Rio Tinto Group, the third-biggest mining company, climbed 3.6 percent to A$126.16, snapping a five-day, 5 percent drop. Rio Tinto may say tomorrow second-half profit climbed 9.4 percent, according to the median analyst estimate in a Bloomberg survey. Inpex jumped 6.7 percent to 1.05 million yen, poised for its biggest advance since Sept. 19. The Tokyo-based company predicted net income of 153 billion yen ($1.4 billion) for the year ending March 31, compared with a November forecast of 127 billion yen.