Asian stocks rose, reversing earlier declines on the regional benchmark, as investors snapped up shares in China, now at the cheapest valuation of the world’s top 10 stock markets. Commodities companies climbed.
Raw-materials suppliers led gains on the regional equities index, with BHP Billiton Ltd. (BHP), the world’s biggest miner, jumping 2.7 percent in Sydney. Bridgestone Corp. (5108), Japan’s No. 1 tiremaker, advanced 4.9 percent after raising its full-year profit forecast. GCL-Poly Energy Holdings Ltd. fell 2 percent in Hong Kong after the world’s largest producer of polysilicon forecast a wider loss.
The MSCI Asia Pacific Index advanced 0.4 percent to 134.39 as of 10:59 a.m. in Hong Kong as seven of the 10 industry groups on the gauge rose. Almost two stocks climbed for each that dropped. Futures on the Standard & Poor’s 500 Index lost 0.1 percent.