Asian Stocks Rise on China Manufacturing Data; BHP, Rio Climb

Sept. 1 (Bloomberg) -- Asian stocks rose, led by commodity companies, after China’s manufacturing expanded at a faster pace in August. Japanese exporters declined on speculation a stronger yen will hurt earnings.

Mining companies BHP Billiton Ltd. and Rio Tinto Group, which get at least a quarter of their sales from China, climbed more than 2 percent in Sydney. Toyota Motor Corp., which derives 30 percent of its sales in the U.S., declined 1.5 percent after the yen earlier traded near a 15-year high versus dollar. Panasonic Corp. fell 0.8 percent after saying it may fail to meet its sales target for 3-D television sets.

The MSCI Asia Pacific Index gained 0.4 percent to 117 as of 10:38 a.m. in Tokyo. The gauge slumped 2.2 percent last month, the biggest monthly loss since May. The index has declined 4.4 percent from a three-month high on Aug. 6 on concern economic growth in the U.S., Europe and China will slow.

Japan’s Nikkei 225 Stock Average climbed 0.6 percent as the yen erased gains against the dollar following the China manufacturing data. Australia’s S&P/ASX 200 Index advanced 1.6 percent. South Korea’s Kospi Index gained 1 percent.

Futures on the Standard & Poor’s 500 Index rose 0.7 percent today. The index yesterday rose less than 0.1 percent, reversing a 0.8 percent loss, as regulators approved a Chinese investment in Morgan Stanley and gains in home prices and consumer confidence tempered concern the economy is faltering.