Asian stocks had the biggest jump in two weeks, led by BHP Billiton and Nippon Mining Holdings Inc., after copper and oil prices rallied.
``The sell off that occurred in commodity prices might be stabilizing so that would be a good thing for the resource sector,'' said Rob Patterson, who manages about $2.6 billion at Argo Investments Ltd. in Adelaide, Australia.
Samsung Electronics Co. and Kookmin Bank led gains in South Korea after North Korea agreed to end its nuclear-weapons program in exchange for aid. CapitaLand Ltd., Southeast Asia's largest developer, jumped after fourth-quarter profit surged as it sold more homes and had gains from a sale of assets.
The Morgan Stanley Capital International Asia-Pacific Index rose 0.8 percent to 144.44 at 11:05 a.m. in Tokyo, set for its biggest advance since Feb. 1. Japan's Nikkei 225 Stock Average gained 0.6 percent to 17,727.74. All markets open for trading advanced except New Zealand, which was little changed.
U.S. stocks snapped a three-day decline and the Dow Jones Industrial Average had its biggest rally this year as takeover speculation boosted mining shares and General Motors Corp. jumped after an analyst upgrade. The Dow rose 0.8 percent, the best performance since Dec. 27.
source:www.bloomberg.com
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