Aug. 2 (Bloomberg) -- Asian energy stocks gained, led by Inpex Corp. and PetroChina Co., on optimism their profits will increase after oil prices climbed to a record.

``Demand for raw materials such as oil is still growing and it's not going to slow any time soon,'' said Shigeharu Shiraishi, who helps oversee about $15 billion as a managing director at Societe Generale Asset Management (Japan) Co. in Tokyo. ``That's feeding into earnings.''

The Morgan Stanley Capital International Asia-Pacific Index, which tracks more than 1,000 companies, rose 0.6 percent to 102.65 as of 3:42 p.m. in Tokyo. The benchmark extended a four-day, 1.5 percent advance as energy-related stocks had the biggest gain among 10 industry groups, rising 2.5 percent.

Japan's Nikkei 225 Stock Average lost 0.1 percent to 11,940.20. Key indexes rose elsewhere in the region except in New Zealand.

In Hong Kong, the Hang Seng Index rose above 15,000 for the first time in more than four years as shares of lenders including HSBC Holdings Plc advanced on better-than-expected earnings.

In the U.S., the Standard & Poor's 500 Index was little changed as record oil prices outweighed optimism about corporate profits and signs of growth in the world's largest economy.

Inpex, Japan's largest oil explorer, gained 0.7 percent to a record 753,000 yen. PetroChina, China's biggest oil producer, climbed 5 percent to HK$7.40. Woodside Petroleum Ltd., Australia's second-biggest oil producer, advanced 1.9 percent to A$31.15.

Earnings Boost

Oil prices reached a record $62.30 a barrel in New York as the death of Saudi Arabia's King Fahd heightened concern about the stability of the world's No. 1 oil exporter. Futures closed up 1.7 percent at $61.57. They were at $61.38 in after-hours trading at 1:23 p.m. Singapore time.

AOC Holdings Inc., a Japanese oil producer and refiner, jumped 5.6 percent to 1,891 yen. The company raised its half-year net income forecast 56 percent as higher oil prices helped boost the value of inventories. Santos Ltd., Australia's third-biggest oil producer, surged 3.4 percent to A$11.08.

In Thailand, PTT Pcl, the biggest energy company, added 2.6 percent to 240 baht. PTT Exploration & Production Pcl, the nation's second-largest natural gas producer, rose 2.8 percent to 444 baht. Its gas rates are linked to the price of oil. The two companies accounted for about half of the SET's climb.

Hong Kong Banks

Hong Kong's Hang Seng Index is set for is highest close since February 2001.

HSBC, Europe's biggest bank by market value, gained 0.9 percent to HK$128.40. The lender yesterday said first-half net income gained 9 percent to $7.6 billion from a year earlier on increased consumer lending in the U.S. and Latin America. Profit beat the median estimate of $7.09 billion in a Bloomberg survey.

Hang Seng Bank Ltd. added 0.3 percent to HK$108.10. The company reported a 2.3 percent drop in first-half net income to HK$6.05 billion ($778 million) from a year earlier. Earnings were more than the HK$5.7 billion median estimate in a Bloomberg survey. Hang Seng Bank, Hong Kong's third-largest lender, is 62 percent owned by HSBC.

Chip Sales

Semiconductor-related shares such as Taiwan Semiconductor Manufacturing Co. and Tokyo Electron Ltd. advanced.

Taiwan Semiconductor, the world's largest supplier of made-to- order chips, rose 3 percent to NT$54.90. Tokyo Electron, the world's second-largest maker of equipment used in the manufacture of semiconductors, advanced 1.8 percent to 6,250 yen.

Worldwide semiconductor sales rose 0.8 percent to $18 billion in June from a year earlier, the Semiconductor Industry Association said, citing data from World Semiconductor Trade Statistics. Sales of chips rose 6.5 percent in the first six months of the year from the year-earlier period.

``Chipmakers are benefiting from solid demand for consumer electronics and mobile phones,'' said Liu Juming, a fund manager at Ta Chong Investment Trust Corp. in Taipei, which manages $1.1 billion in assets.

Chartered Semiconductor Manufacturing Ltd., Singapore's biggest chipmaker, rose 2.4 percent to S$1.30.

To contact the reporters on this story: Michael Tsang in Tokyo at mtsang1@bloomberg.net.

Last Updated: August 2, 2005 02:54 EDT