James Hardie Industries SE (JHX), a building materials supplier that receives about 68 percent of revenue from the U.S., climbed 2.6 percent in Sydney as an index of American optimism rose to the highest since February. Elpida Memory Inc., a Japanese chipmaker, jumped 2.6 percent in Tokyo after prices of dynamic random access memory chips used in computers advanced 6.5 percent so far this year.
“There are more positive signs particularly on employment and consumer” spending in the U.S., saidStephen Halmarick, Sydney-based head of investment markets research at Colonial First State Global Asset Management, which oversees about $150 billion. “The outlook in the U.S. is for modest growth this year, and that’s better than Europe. Expectations are Europe will be in a recession.”
The MSCI Asia Pacific Index rose 0.1 percent to 116.22 as of 11:07 a.m. in Tokyo, with five shares rising for every three that fell. The gauge advanced 0.9 percent last week as manufacturing growth from China to the U.S. bolstered confidence in the global economy.
Japan’s Nikkei 225 Stock Average added 0.2 percent. Australia’s S&P/ASX 200 Index increased 1 percent. Hong Kong’s Hang Seng Index gained 0.4 percent. China’s Shanghai Composite Index increased 0.2 percent. South Korea’s Kospi Index fell 0.2 percent.
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