July 25 (Bloomberg) -- Asian energy stocks rose, led by Inpex Corp. and Woodside Petroleum Co., after oil prices climbed on expectations a stronger yuan will encourage China to increase fuel imports.

``Energy stocks really stand out in terms of performance and it's hard to see that ending anytime soon because demand from China is so strong,'' said Taiji Yoshida, who helps manage $6.1 billion at Yasuda Asset Management Co. in Tokyo.

Japan's Nikkei 225 Stock Average rose 0.5 percent to 11,753.57 at 1 p.m. in Tokyo. South Korea's Kospi index climbed 1.1 percent, the biggest gain in the region, after the won weakened against the dollar.

An index tracking the performance of energy stocks in the Morgan Stanley Capital International Asia-Pacific Index rose 0.8 percent, the biggest advance among the 10 industry groups that make up the regional benchmark.

All other indexes in the region gained except in China, Indonesia, Malaysia and Singapore. The MSCI Asia-Pacific Index, which tracks more than 1,000 stocks in U.S. dollars, slid 0.2 percent to 101.23 as the dollar strengthened against regional currencies for a second day. The Philippine market is closed today for a holiday.

Exporters such as Fuji Photo Film Co. and Stats ChipPac Ltd. slid on concern fuel costs will damp consumer spending in the U.S., the world's largest economy.

In the U.S., energy companies Schlumberger Ltd. and Halliburton Co. pushed the Standard & Poor's 500 Index to its longest string of weekly gains since September after reporting better-than-expected earnings as oil prices jumped.

Crude oil for September delivery rose as much as 0.4 percent to $58.89 a barrel on the New York Mercantile Exchange in after- hours trading. The contract jumped 2.7 percent to $58.65 on July 22. Oil prices today are 41 percent higher than a year ago.

`Boost'

China on July 21 dismantled the yuan's peg of about 8.3 per dollar and said it will allow the yuan to fluctuate against a basket of currencies. The yuan appreciated 2.1 percent to 8.11 per dollar on that day, making it cheaper for refiners including China Petroleum & Chemical Corp. to buy fuel.

Inpex, Japan's biggest oil explorer, rose 1.6 percent to 690,000 yen. Woodside Petroleum, Australia's second-biggest oil producer, added 2.3 percent to A$30.58.

``Higher oil prices will benefit energy-related companies and provide a boost for their shares,'' said Yutaka Miura, a manager at Shinko Securities Co. in Tokyo.

BHP Billiton, the world's biggest miner, rose 1.5 percent to A$19.38. The company gets about a fifth of its earnings from crude oil. Singapore Petroleum Co., one of the city's two publicly traded oil- and gas-explorers, rose 1.7 percent to S$4.94. PetroChina Co., the nation's largest oil company, added 2.3 percent to HK$6.60.

Exporters

Fuji Photo, the world's fifth-largest seller of digital cameras, fell 1.1 percent to 3,500 yen. Singapore's Stats ChipPac, the world's No. 3 provider of testing and packaging services for semiconductors, slid 2.3 percent to S$1.29. The company generated about three-quarters of sales from the U.S. last year.

Exporters in South Korea rose after the won weakened against the dollar, increasing the value of their overseas earnings when converted back into local currency.

``Sentiment for exporters is positive on optimism their earnings will improve in the second half,'' said Lee Seung Jun, who helps oversee the equivalent of $600 million at CJ Asset Management Co. in Seoul.

Hyundai Motor Co., the nation's largest automaker, rose 0.9 percent to 66,000 won. Three out of every four cars Hyundai made in 2004 were sold outside South Korea. Samsung Electronics Co., South Korea's largest exporter, gained 0.5 percent to 555,000 won.

The won lost 0.3 percent to 1024.30 per dollar as of 12:54 p.m. in Seoul, according to Seoul Money Brokerage Services Ltd.

Hynix, Chang Hwa

Hynix Semiconductor Inc., the world's second-largest maker of computer-memory chips last year, climbed 8 percent to 22,200 won after Good Morning Shinhan Securities Co. raised its six-month share-price estimate on the company to 28,600 won from 16,500 won, citing a recovery in memory-chip prices.

In Taiwan, Chang Hwa Commercial Bank advanced after Taishin Financial Holdings Co. said it will buy a stake to get management control of the lender.

Chang Hwa, a state-controlled lender, jumped by the 7 percent daily limit to NT$19.90. Taishin on July 22 agreed to pay NT$36.6 billion ($1.16 billion) for management control of Chang Hwa, creating the second-largest banking group in Taiwan in terms of assets. Taishin dropped 3.8 percent to NT$26.60.

In Australia, Alumina Ltd., which owns 40 percent of U.S.- based Alcoa inc., the world's biggest alumina producer, slid 2.1 percent to A$5.70. The company cut its first-half profit estimate on lower-than-expected sales volumes, little changed output and higher smelting costs in the half.

To contact the reporter on this story: Chen Shiyin in Singapore at schen37@bloomberg.net.

Last Updated: July 25, 2005 00:22 EDT