i Develop Stocks Advisory

Asian Stocks, U.S. Futures Advance; Hong Kong's Hang Seng Jumps Asian stocks rose, snapping four days of declines, as investors speculated recent losses were overdone. U.S. stock index futures gained and the yen dropped. Hong Kong's Hang Seng Index rallied 11 percent, rebounding from its biggest decline in a decade, as HSBC Holdings Plc surged. Toyota Motor Corp. climbed 7.8 percent in Tokyo, where the Nikkei Nikkei 225 Stock Average closed yesterday at a 26-year low. Hynix Semiconductor Inc. surged 15 percent in Seoul, after South Korea's National Pension Service said it's buying stocks. The MSCI Asia Pacific Index added 3.1 percent to 77.55 as of 4:02 p.m. in Tokyo, erasing earlier losses of 2.8 percent. The measure slumped 19 percent in the previous four days, closing yesterday at the lowest since August 2003. Futures on the Standard & Poor's 500 Index gained 3.2 percent. ``We are beginning to see a lot of value emerging,'' said Nicole Sze, a Singapore-based investment analyst at Bank Julius Baer & Co., which manages $350 billion. ``On a fundamental basis, stocks are starting to look appealing for investors with a long- term horizon.'' The MSCI index has lost 51 percent this year on concern the widening financial crisis and slowing economic growth will hurt company profits. The measure now trades at less than 1 times book value, compared with the S&P 500's 1.6 times. Japan's Nikkei 225 Stock Average gained 6.4 percent. Finance Minister Shoichi Nakagawa said restrictions on short-selling of shares will take effect today to bolster the stock market. Mitsubishi UFJ Financial Group Inc. fell, limiting gains, after unveiling a plan to raise as much as 990 billion yen ($10.7 billion). Hong Kong Rally The yen dropped for the first time in six days against the dollar and dropped the most in almost eight years versus the euro as the rebound in stocks bolstered investor confidence in higher- yielding assets. Hong Kong's Hang Seng Index jumped 13 percent, the biggest gain since 1998 and ending a five-day, 28 percent plunge, after Financial Secretary John Tsang said the government will act to support the stock market if necessary.