Asian Stocks Rise again

Asian stocks rose for a sixth day, lifting a regional benchmark to a record, on signs of increasing demand for computer chips and metals.

Samsung Electronics Co. jumped after a brokerage report raised speculation that prices for dynamic random access memory, or DRAM, will climb, boosting profit. BHP Billiton Ltd. and Rio Tinto Group advanced on higher metals prices.

``Global growth is continuing to be very strong,'' said Sean Fenton, who helps manage $832 million at Jenkins Investment Management in Sydney. ``It has provided a big boost for the market the past few months. We expect it to be supportive of resources shares for some years to come.''

The Morgan Stanley Capital International Asia-Pacific Index gained 0.5 percent to 156.69 at 10:39 a.m. in Tokyo. Japan's Nikkei 225 Stock Average rose 0.7 percent, while South Korea's Kospi index added 1.1 percent. Markets open for trading advanced, except in China and Malaysia.

Samsung Electronics, the world's biggest computer-memory maker, climbed 2.4 percent to 592,000 won. Hynix Semiconductor Inc., the second largest, surged 4.2 percent to 36,400 won.

Inotera Memories Inc., Taiwan's most profitable DRAM maker, rose 0.6 percent to NT$42.75. Nanya Technology Corp., the island's second-largest memory-chip maker, climbed 1.1 percent to NT$31.60.

`Significant Rise'

DRAM contract prices will advance 15 percent to 20 percent in the first half of July from the second half of last month, a ``significant rise,'' CJ Investment & Securities Co. said in a report. Demand is rising while chip supply may increase less than expected for the rest of the year, wrote Song Myung Sup, an analyst.

Dramexchange.com, Asia's biggest DRAM spot market, said yesterday that prices will rise by at least 10 percent this month from June.

BHP, the world's biggest mining company, added 1 percent to A$36.77. Rio Tinto, the third-largest, rose 1.1 percent to A$101.40. Zinifex Ltd., the No. 3 zinc producer, gained 3.1 percent to A$19.73. Nippon Mining Holdings Inc., Japan's biggest copper smelter, added 0.7 percent to 1,195 yen.

A measure of six metals traded on the London Metal Exchange gained 1.3 percent yesterday. Copper added 1.3 percent and lead jumped 4.2 percent.

source:bloomberg.com