Dec. 6 (Bloomberg) -- Asian stocks rose, pushing a regional benchmark to a one-month high, as U.S. productivity and jobs reports eased concern that the world's largest economy will fall into recession.

Mitsubishi UFJ Financial Group Inc. and Hang Seng Bank Ltd. climbed on expectations the U.S. will announce measures to contain subprime-mortgage losses after home prices fell. Samsung Electronics Co. led gains among technology stocks after brokerages forecast increasing computer and software demand.

``There are expectations that the U.S. economy will be able to ease itself into a soft landing,'' said Yang Jeung Won, who oversees the equivalent of $7.6 billion at Samsung Investment Trust Management Co. in Seoul. U.S. government measures ``will stop their poor people from becoming homeless, halt the drop in property prices and help prop up spending,'' he said.

The MSCI Asia Pacific Index added 1.4 percent to 164.72 as of 5:31 p.m. in Tokyo, heading for its highest close since Nov. 7. Japan's Nikkei 225 Stock Average added 1.7 percent. All major markets in the region advanced.

BHP Billiton Ltd. and Jiangxi Copper Co. climbed with mining stocks as investors bet growth in the U.S. economy will help sustain metals demand. Baoshan Iron & Steel Co. slid after the China Daily said its parent won't bid for Rio Tinto Group.

The Standard & Poor's 500 Index rose yesterday to the highest in a month after the U.S. Labor Department said worker productivity climbed the most since 2003 in the third quarter. A report from ADP Employer Services showed companies last month added 189,000 jobs, more than triple the average forecast.

Bank Shares Advance

MSCI's regional index had dropped as much as 11 percent from its Nov. 1 record on concern rising losses tied to investments in U.S. subprime, or higher risk, mortgages will slow growth in the largest market for Asian exports.

Mitsubishi UFJ, Japan's biggest publicly traded bank, rose 6.6 percent to 1,228 yen. Sumitomo Mitsui Financial Group Inc., the nation's second-largest by market value, climbed 6.6 percent to 971,000 yen. Japanese banks booked combined losses of 119 billion yen ($1.1 billion) in the fiscal first half on subprime assets, the nation's chief financial regulator said Nov. 22.

U.S. regulators and lenders agreed to freeze interest rates on subprime mortgages for five years to stem rising foreclosures, a person familiar with the measure said yesterday. The accord, due to be announced by President George W. Bush later today, is aimed at easing the fallout from a housing recession that is in its third year.

``The market is relieved that the U.S. is looking at a raft of alternatives to solving these problems,'' said Michael Birch, who helps manage the equivalent of $138 million at Wallace Funds Management in Sydney. ``The policymakers are trying to do enough so that the economy will have a soft landing.''

Rising Demand

Former U.S. Treasury Secretary Lawrence Summers said on Nov. 20 that economic data indicated there was a ``very significant chance'' that the U.S. falls into recession next year.

HSBC Holdings Plc, Europe's largest lender, added 1.8 percent to HK$133.60 in Hong Kong. Hang Seng Bank, a unit of HSBC, climbed 5.1 percent to HK$166.90. DBS Group Holdings Ltd., the biggest bank in Southeast Asia, rose 2.9 percent to S$21.30 in Singapore.

UBS AG recommended investors hold more banks in Hong Kong, Indonesia and Singapore in their portfolios next year than the shares' representations on stock benchmarks because ``the bank systems in these markets are the most resilient and most geared to lower U.S. rates,'' a report today said.

Samsung, Elpida

Samsung Electronics, Asia's biggest maker of chips and mobile phones, climbed 5.2 percent to 612,000 won. The stock rose to the highest in almost four months, as computer memory chips gained for a sixth day, according to Dramexchange Technology Inc.

Elpida Memory Inc., Japan's largest maker of computer- memory chips, climbed 12 percent to 4,300 yen, the biggest gain since January 2006. Hynix Semiconductor Inc., the world's second-largest computer-memory maker, advanced 5.1 percent to 26,950 won.

Demand for the products of Oracle Corp., the world's third- biggest software company, will remain ``solid,'' Lehman Brothers Holdings Inc. said yesterday. Intel Corp., the world's biggest chipmaker, had its rating raised at Thomas Weisel Partners on growing computer demand.

BHP, the world's largest mining company, gained 1.6 percent to A$43.38. Posco, Asia's third-biggest steelmaker, climbed 4.4 percent to 617,000. Jiangxi Copper, China's second-largest producer of the metal, advanced 3.1 percent to HK$21.65.

Baoshan Steel

Economic expansion in the U.S. will help sustain orders for copper, nickel and iron ore used in construction and manufacturing. A measure of six metals traded on the London Metal Exchange has gained for five straight years as growth in China and India fueled demand.

Baoshan Steel, the listed unit of Baosteel Group Corp., China's biggest steelmaker, dropped 0.4 percent to 16.50 yuan.

China Daily's report that Baosteel won't bid for Rio Tinto ``has dashed investors' hope for domestic steelmakers controlling the upstream raw-material resources,'' said Yan Ji, an investment manager at HSBC Jintrust Fund Management Co. in Shanghai, which manages the equivalent of about $517 million.

Hutchison Telecommunications International Ltd., a phone company controlled by Li Ka-shing, gained 5.3 percent to HK$11.90 after the Hong Kong billionaire's holding companies paid $962 million to raise their stake.

Fast Retailing Co., operator of Japan's biggest clothing chain, climbed 5.7 percent to 8,100 yen. The shares rose for a second day after the company reported sales at its main Uniqlo business increased 3.2 percent in November.

Baoshan Iron & Steel Co. (600019 CH)
BHP Billiton Ltd. (BHP AU)
DBS Group Holdings Ltd. (DBS SP)
Elpida Memory Inc. (6665 JT)
Fast Retailing Co. (9983 JT)
Hang Seng Bank Ltd. (11 HK)
HSBC Holdings Plc (5 HK)
Hutchison Telecommunications International Ltd. (2332 HK)
Hynix Semiconductor Inc. (000660 KS)
Jiangxi Copper Co. (358 HK)
Mitsubishi UFJ Financial Group Inc. (8306 JT)
Posco (005490 KS)
Samsung Electronics Co. (005930 KS)
Sony Corp. (6758 JT)
Sumitomo Mitsui Financial Group Inc. (8316 JT)

To contact the reporters for this story: Kyung Bok Cho in Seoul at kcho7@bloomberg.net,

Last Updated: December 6, 2007 03:33 EST