June 26 (Bloomberg) -- Asian stocks rose for the first time in six days, led by electronics makers and banks, on optimism about export growth after the U.S. Federal Reserve reported an improvement in consumer spending in the world's largest economy.

Sony Corp., which gets 27 percent of sales from the U.S., gained the most in three weeks in Tokyo and Nintendo Co., maker of the Wii video-game system, climbed to a five-month high. Commonwealth Bank of Australia, the country's second-biggest by assets, rose after saying it has no need to raise additional capital. Stocks pared gains after Goldman, Sachs & Co. downgraded brokerages and said Citigroup Inc. may need more funds.

``Like the Fed's comments suggest, the situation is certainly getting better than when major investment banks were collapsing,'' said Christian Jin, who oversees $1.3 billion as head of global investment at CJ Asset Management Co. in Seoul.

The MSCI Asia Pacific Index rose 0.4 percent to 138.72 as of 7:15 p.m. in Tokyo. About as many stocks advanced as fell, with financial stocks contributing the most to the index's advance among 10 industry groups. Most Asian benchmark indexes climbed.

Japan's Nikkei 225 Stock Average was little changed at 13,822.32, paring an increase of as much as 0.9 percent, after Goldman said Citigroup may take an additional $8.9 billion in net writedowns in the second quarter. The broker also cut its rating on U.S. brokerages to ``neutral'' from ``attractive.''

Australia's S&P/ASX 200 Index rose 1.3 percent, the region's biggest advance. Centro Properties Group and Babcock & Brown Ltd. gained after newspaper reports said they will cut debt levels.

MSCI's Asian index has tumbled 12 percent year-to-date, its worst performance since 1998, on concern quickening inflation, record oil prices and almost $400 billion of credit-related losses by the world's largest banks will hurt growth.

Trimming Bets

Futures on the U.S. Standard & Poor's 500 Index fell 0.4 percent. The measure had its biggest gain in two weeks yesterday after the Fed left its benchmark rate at 2 percent and said consumer spending is ``firming'' while acknowledging that rising energy prices will be a curb on growth into 2009.

Traders trimmed bets on a rate increase in the next three months after the announcement. Odds that the Fed will keep its benchmark at 2 percent in September jumped to 66 percent from 10 percent a day earlier, according to futures contracts quoted on the Chicago Board of Trade.

Sony, the world's second-largest consumer-electronics maker, gained 2.9 percent to 5,060 yen, the biggest advance since June 2. The company said after the market closed that it aims to double electronics sales in Brazil, Russia, India and China within three years. Nintendo rose 2.6 percent to 62,900 yen, the highest since Jan. 4.

Banks Gain

Commonwealth Bank gained 5 percent to A$40.90, the most since April 21. The Sydney-based lender said it has no plans or need to raise extra capital, according to a presentation filed with the stock exchange. St George Bank Ltd., the fifth-largest in Australia, added 4.3 percent to A$28.90, the sharpest gain this month, after saying it remains on track for earnings-per- share growth of between 8 percent and 10 percent in 2008.

Westpac Banking Corp., which is seeking to buy St George Bank, gained 4.1 percent to A$21.39, after it said in a presentation at a UBS conference that it is confident of retaining its credit rating after the merger.

Australia's five largest banks have declined by an average 22 percent this year and are valued at 10.6 times earnings, compared with 13.8 times for the S&P/ASX 200 Index, according to data compiled by Bloomberg.

The nation's biggest banks are ``in very solid shape,'' said Martin Lakos, division director at Macquarie Private Wealth in Sydney. ``From a balance-sheet perspective they're still very profitable.''

Centro, Babcock & Brown

Centro, the Australian owner of more than 650 U.S. malls, rose 15 percent to A$0.27 after the Sydney Morning Herald reported the company plans to sell stakes in A$1.15 billion ($1.1 billion) of shopping centers to cut debt.

Babcock & Brown, Australia's second-largest securities firm, soared 7 percent to A$6.75 after the Australian newspaper said the company may take on a cornerstone investor to boost equity as bankers examine its borrowings. Centro and Babcock & Brown have lost more than 70 percent of their market value this year.

DC Chemical Co., a South Korean maker of petrochemicals and solar-power components, gained 3.1 percent to 370,000 won, the highest close since June 11, after UBS AG raised its price estimate by 24 percent to 800,000 won, citing plans by the company to boost output.

To contact the reporter for this story: Chua Kong Ho at kchua6@bloomberg.net; Kyung Bok Cho at kcho7@bloomberg.net.

Last Updated: June 26, 2008 06:17 EDT