Asian Stocks Advance on Commodity Prices, Weaker Yen; BHP Gains

Oct. 4 (Bloomberg) -- Asian stocks rose, led by mining companies and Japanese exporters, after commodity prices increased and the yen weakened against the dollar.

BHP Billiton Ltd., the world’s No. 1 mining company, increased 1.4 percent in Sydney on speculation commodity demand will rise after U.S. consumer spending increased. Hyundai Motor Co., South Korea’s largest automaker, climbed 2.6 percent in Seoul after its U.S. sales rose to a record for September. Honda Motor Co., which receives 46 percent of its sales from North America, rose 1.3 percent.

The MSCI Asia Pacific Index gained 0.5 percent to 127.64 as of 10:53 a.m. in Tokyo, with about twice as many stocks advancing as declining. Japan’s Nikkei 225 Stock Average climbed 1.1 percent. Australia’s S&P/ASX 200 Index rose 1 percent, and South Korea’s Kospi index increased 0.7 percent.

Hong Kong stocks may move after China’s premier said the nation will stabilize its economy by increasing domestic demand. Hong Kong’s market was closed on Oct. 1 for a holiday. Chinese markets are shut this week.