ASIA PACIFIC

Stocks increased on the first full trading day of the year yesterday after economic reports in the US, while Germany and India raised optimism that global growth would bolster the outlook for earnings in the face of Europe’s debt crisis.

The MSCI Asia Pacific index advanced 1 percent to 116.54 as of 8.12pm in Tokyo.

Building materials supplier James Hardie Industries climbed 2.5 percent in Sydney. Toyota and Honda led a rally among car manufacturers following a report that Chinese demand will lift global vehicle sales this year. Toyota rose 3.1 percent and Honda climbed 4.1 percent. Nomura Holdings jumped 6.9 percent after SMBC Nikko Securities said the Japanese brokerage probably returned to profit last quarter.

“Economic data across the globe have been encouraging, and valuations are looking attractive,” Mitsubishi UFJ Asset Management fund manager Michiya Tomita said. – Bloomberg