Asian Stocks Rise for Third Week on Commodities, Profit Outlook

Asian stocks rose for a third week as commodity prices gained and as U.S. companies reported or raised profit forecasts, boosting confidence in the strength of global economic growth.

BHP Billiton Ltd., the world’s largest mining company, climbed 4 percent this week in Sydney. Hon Hai Precision Industry Co., the world’s largest electronics contract manufacturer, gained 3.7 percent in Taipei after Microsoft Corp. reported positive earnings in the U.S. China Resources Land Ltd., a state-controlled developer, soared 6.4 percent in Hong Kong on speculation China may ease tightening measures.