Most Asian Stocks Rise; Australian Retailers Gain on Earnings

Feb. 26 (Bloomberg) -- Most Asian stocks advanced as gains among Australian retailers and raw-material producers overshadowed declines by technology companies.

Woolworths Ltd., Australia’s biggest retailer, climbed 3.5 percent as it announced a share buy-back following an increase in first-half profit. Harvey Norman Holdings Ltd., the nation’s largest furniture and electronics retailer, gained 2.9 percent after earnings jumped 60 percent. Newcrest Mining Ltd. advanced 2 percent as gold climbed in New York yesterday. In Seoul, Hynix Semiconductor Inc. sank 3.2 percent on concern creditors will sell shares in the company.

The MSCI Asia Pacific Index rose 0.1 percent to 117.15 at 9:57 a.m. in Tokyo. Five stocks advanced for every four that declined. The gauge has slumped 7.8 percent from a 17-month high on Jan. 15 amid concerns governments will start withdrawing stimulus measures and Greece, Spain and Portugal will struggle to curb deficits.

Japan’s Nikkei 225 Stock Average gained 0.2 percent. Australia’s S&P/ASX 200 Index rose 0.5 percent. New Zealand’s NZX 50 Index was little changed.