LG Electronics Inc., the world’s third-largest maker of mobile phones, climbed 5.9 percent in Seoul. James Hardie Industries SE, the building materials supplier that counts the U.S. as its top market, jumped 4.9 percent in Sydney as construction spending in America rose in December at the fastest pace in four months. Trading in 241 stocks including Sony Corp and Hitachi Ltd. was halted on the Tokyo Stock Exchange due to a technical glitch, bourse spokeswoman Yukari Hozumi said by phone.
“We got more confirmation that business confidence in the U.S. and Europe is improving” said Mitsushige Akino, who oversees about $600 million at Ichiyoshi Investment Management Co. in Tokyo. “The European debt crisis is in a temporary lull, so stocks sensitive to the economy will have a chance to gain.”
The MSCI Asia Pacific Index gained 0.8 percent to 124.07 as of 9:31 a.m. in Tokyo, poised for its highest close since Oct. 28. About four shares rose for each that fell in the gauge. In January, the measure posted its biggest monthly advance since September 2010 amid bets China will ease lending curbs, the U.S. economy is improving and Europe is containing its debts crisis.
Rio Tinto Group, the world’s third-biggest mining company, rose 2.6 percent after agreeing to buy BHP Billiton Ltd.’s stake in a titanium venture in South Africa.
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