Jan. 8 (Bloomberg) -- Asian stocks rose for the first time in four days, led by financial shares, after China Merchants Bank Co. doubled its profit and Citic Securities Co. said net income jumped more than fivefold.

China Construction Bank Corp., the nation's second-largest bank, climbed the most in two weeks in Hong Kong. Fubon Financial Holding Co. led Taiwanese financial companies higher after the Economic Daily News reported they may be allowed to buy stakes in China's banks. Reliance Industries Ltd. paced gains among energy shares after saying it may join rivals to seek oil in India.

``Earnings from major Chinese financial companies have beaten market expectations by as much as 10 percent,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management in Shanghai. ``That has provided a short-term boost.''

The MSCI Asia Pacific Index added 0.1 percent to 153.10 as of 7:17 p.m. in Tokyo, following a three-day, 3.4 percent drop. About six stocks climbed for every five that retreated. Japan's Nikkei 225 Stock Average rose 0.2 percent to 14,528.67.

U.S. stocks gained yesterday for the first time this year, led by drugmakers and utilities, after analysts recommended buying shares of companies least affected by an economic slowdown.

Japanese shipping lines rose, led by Mitsui O.S.K. Lines Ltd. after Deutsche Bank AG recommended that investors buy shares of the country's three largest marine-transport companies. Sony Corp. climbed for a second day after Time Warner Inc. said it will use the Japanese company's Blu-ray video technology exclusively.

Malaysian Resources Corp. led the nation's builders higher as investors bet a general election will be held soon, fueling speculation the government will boost spending and spur growth.

Sale Delay

Hyundai Engineering & Construction Co. and Daewoo Shipbuilding & Marine Engineering Co. led declines in South Korea after Edaily said Korea Development Bank will delay selling its stakes in the companies.

China Merchants Bank, the nation's largest dual-currency credit-card issuer, said profit in 2007 surged 110 percent from a year earlier on increased lending. The stock jumped 3 percent to HK$31 in Hong Kong.

Citic Securities, Asia's largest brokerage by market value, added 2.6 percent to 92.88 yuan. Net income rose more than 400 percent in 2007 on trading commissions in a booming stock market, the Beijing-based company said yesterday.

China Construction Bank surged 3.5 percent to HK$6.21 in Hong Kong, its biggest gain since Dec. 24. Industrial & Commercial Bank of China Ltd., the world's largest lender by market value, climbed 0.6 percent to HK$5.30.

``Better earnings are expected from Chinese banks,'' said Tat Auyeung, who oversees $400 million at Apex Capital Management in Hong Kong.

Taiwan Financials

Fubon Financial, Taiwan's second-largest financial-services company, surged 6.9 percent to NT$31.10. Cathay Financial Holdings Co., its larger rival, gained 3.3 percent to NT$69.30.

Taiwan may let financial holding companies use their Hong Kong units to buy stakes of less than 20 percent in Chinese banks, the Economic Daily News reported, citing unidentified government officials.

Reliance Industries, India's most valuable company, rose 1.2 percent to 3,050.5 rupees. P.M.S. Prasad, president of Reliance's oil and gas business, said the company may bid with local or overseas exploration companies to find deposits in India.

China Coal Energy Co., the nation's second-largest coal producer by sales, added 2.6 percent to HK$25.40 after the nation's regulators said they will review the company's domestic share-sale plan this week.

Marine Transport

Mitsui O.S.K., Japan's second-largest shipping line, gained 3.8 percent to 1,332 yen. Kawasaki Kisen K.K., the third-biggest, climbed 5.5 percent to 1,014 yen. Nippon Yusen K.K., the largest, rose 3.3 percent to 843 yen.

Seigo Ando, an analyst at Deutsche Bank in Tokyo, rated shares of all three companies a ``buy'' in new coverage. The Baltic Dry Index, a benchmark for the price of shipping bulk commodities, rose 0.3 percent yesterday, its first gain since Dec. 13.

Sony advanced 3.4 percent to 6,030 yen, extending yesterday's 0.7 percent gain, after Time Warner said it would use the company's Blu-ray technology instead of rival Toshiba Corp.'s HD DVD format.

``The HD DVD/Blu-ray format war could now be entering its final phase,'' Eiichi Katayama, an analyst in Tokyo at Nomura Holdings Inc., wrote in a note to clients yesterday after markets closed. ``We expect to see Sony move onto the offensive.''

Malaysian Resources, the country's biggest developer of office space, jumped 13 percent to 2.87 ringgit, the largest percentage gain on the MSCI regional index. Gamuda Bhd. the No. 3 construction company, gained 7.6 percent to a record 5.70 ringgit.

`Feel-Good'

``There are expectations that elections are on the cards,'' said David Ng, who helps manage $954 million at Hwang-DBS Asset Management Sdn. in Kuala Lumpur. There seems to be a ``feel-good atmosphere'' in the market, he said.

Hyundai Engineering, South Korea's fourth-biggest builder, slumped 7.5 percent to 89,500 won, the biggest decline since Aug. 16. Daewoo Shipbuilding, the world's third-largest maker of ships, slid 5.2 percent to 44,5500 won.

The sale of Korea Development Bank's stakes in Hyundai Engineering and Daewoo Shipbuilding will be delayed until at least next year, Internet news provider Edaily said today, citing Kwak Seung Jun, a member of President-elect Lee Myung Bak's transition committee. Korea Development is the largest shareholder in the two companies.

To contact the reporter on this story: Chen Shiyin in Singapore at schen37@bloomberg.net; Zhang Shidong in Shanghai at szhang5@bloomberg.net.

Last Updated: January 8, 2008 05:22 EST