Reply #5: Asian Stocks Rise for First Day in Four

[Ghost Dog]

http://www.bloomberg.com/apps/news?pid=20601080&sid=awY...

July 19 (Bloomberg) -- Asian stocks rose for the first time in four days, led by BHP Billiton Ltd. and Zijin Mining Group Co., after copper, gold and oil prices gained.

JFE Holdings Inc., Japan's second-largest steelmaker, and Posco, South Korea's biggest, climbed after UBS AG said slowing global production is ``supportive'' of steel prices. China, the world's No. 1 consumer of the alloy, today reported its economy grew in the second quarter at the fastest pace in 12 years.

``Companies are benefiting from tight supply and growing demand,'' said Masayuki Kubota, who helps oversee $2.1 billion in assets at Daiwa SB Investments Ltd. in Tokyo. ``The global economy and corporate profits are being driven by growing demand in emerging markets such as China.''

The Morgan Stanley Capital International Asia-Pacific Index advanced 0.6 percent to 158.69 at 7:11 p.m. in Tokyo. Nine of the 10 industry groups rose on the measure, which had fallen 1.1 percent in the previous three days. Japan's Nikkei 225 Stock Average climbed 0.6 percent to 18,116.57.

In China, the CSI 300 Index was little changed. Reports also showed inflation accelerated the most in almost three years, adding pressure on the government to raise interest rates.

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