Tuesday, January 29, 2008

Asian Stocks Advance for Second Day, Led by Mining Companies

By Chua Kong Ho

Jan. 30 (Bloomberg) -- Asian stocks rose for a second day, led by commodities companies, after metals prices advanced.

BHP Billiton Ltd., the world's largest mining company, climbed to a two-week high and Sumitomo Metal Mining Co., Japan's biggest gold and nickel producer, gained.

The MSCI Asia Pacific Index added 0.4 percent to 143.91 at 9:58 a.m. in Tokyo.

Australia's S&P/ASX 200 Index gained 1.1 percent and South Korea's Kospi Index rose 0.1 percent. Japan's Nikkei 225 Stock Average fell 0.4 percent to 13,427.06.

The U.S. Standard & Poor's 500 Index added 0.6 percent yesterday.

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