Bloomberg (11/10) -- Asian stocks rose, with the regional benchmark
index rebounding from a one-month low, after U.S. payrolls and China’s
industrial production gained more than expected.Honda Motor Co.,
a Japanese carmaker that gets 47 percent of its revenue in North
America, gained 1.7 percent. Orica Ltd. surged 6.2 percent in Sydney as
it enters an agreement to buy natural gas with Esso Australia Resources
Ltd. and BHP Billiton Ltd. Olympus Corp., an optical-equipment maker,
slid 2.4 percent in Tokyo after cutting its net-income forecast.The
MSCI Asia Pacific Index added 0.4 percent to 139.52 as of 9:29 a.m. in
Tokyo, with nine of the 10 industry groups on the gauge rising. It
closed on Nov. 8 at the lowest level since Oct. 8, capping a three-week
loss. U.S. stocks rallied on Nov. 8 after a jobs report added to signs
growth in the world’s biggest economy is strong enough to withstand a
cut to stimulus.The Asia-Pacific gauge climbed the past two
months, pushing valuations on the measure to 13.5 times estimated
earnings as of Nov. 8, up from a multiple of 12.7 at the end of August,
according to data compiled by Bloomberg. That compares with a current
multiple of 16 for the Standard & Poor’s 500 Index and 15 for the
Stoxx Europe 600 Index.Japan’s Topix index rallied 1.1 percent
after the yen fell. Australia’s S&P/ASX 200 Index gained 0.3
percent, while New Zealand’s NZX 50 Index slipped 0.1 percent. South
Korea’s Kospi index added 0.1 percent. Futures on the S&P 500 lost
less than 0.1 percent. Markets in China and Hong Kong are yet to open.
