Asia Stocks Outside Japan Rise as Consumer Shares Advance

Asian stocks outside Japan rose, with a regional gauge extending gains into a third day as consumer and utilities companies advanced.

HanKore Environment Tech Group Ltd. (BIOT) soared 35 percent in Singapore after a filing showed China Everbright International Ltd. plans to transfer water-industry investments to the company. Sinopec Kantons Holdings Ltd. gained 4.6 percent in Hong Kong after the oil trader said its controlling shareholder China Petroleum & Chemical Corp. is considering a asset injection of natural gas pipelines. Perseus Mining Ltd., a gold producer, sank 3.9 percent in Sydney as the precious metal headed for its biggest annual decline since 1981.

The MSCI Asia Pacific excluding Japan Index climbed 0.2 percent to 467.64 as of 6:17 p.m. in Hong Kong. Global equities soared by more than $9 trillion in 2013 as central bank stimulus helped the U.S. economy gain momentum and Europe recover from its longest-ever recession.

“Investors are finishing the year a lot more confident than they were at the start of it,” Ric Spooner, chief market analyst at CMC Markets Plc in Sydney, said by phone today. “ Given market moves this year we are now vulnerable to deeper corrections.”

Australia’s S&P/ASX 200 Index slid 0.1 percent with volume 39 percent below the 30-day average, paring this year’s advance to 15 percent. Hong Kong’s Hang Seng Index rose 0.3 percent, extending its 2013 advance to 2.9 percent. Sinopec Kantons rose 4.6 percent to HK$8.62.

Singapore, Taiwan

Singapore’s Straits Times Index added 0.4 percent with volume more than double the 30-day average as futures contracts on the gauge and on the MSCI Singapore Index settled today. HanKore surged 35 percent to 10.8 Singapore cents.

Taiwan’s Taiex Index fell 0.1 percent. New Zealand’s NZX 50 Index slid 0.7 percent, paring this year’s advance to 16 percent. India’s S&P BSE Sensex Index gained 0.1 percent, having reached a record high this month and risen 9 percent in 2013.

Markets in Japan, South Korea, Indonesia, Thailand, the Philippines and Vietnam are closed.

While the Nikkei 225 Stock Average (NKY) capped its best year since 1972 yesterday with a 57 percent advance, the gauge of Asian stocks outside Japan has risen 0.4 percent in 2013 and valuations on those equities are trailing global shares by the most since 2005, data compiled by Bloomberg show.

The Asia-Pacific excluding Japan measure yesterday traded at a price-to-earnings ratio of 13.3, data compiled by Bloomberg show. That compares with an earnings multiple of 17.9 on the MSCI All-Country World Index, which advanced 20 percent in 2013.

China Growth

China’s Shanghai Composite Index declined 7.6 percent in 2013 through yesterday and the Hang Seng Index gained 2.6 percent amid concern growth in the world’s second-largest economy will slow. The pace of expansion will probably wane to 7.5 percent in 2014 from 7.6 percent this year, according to the median estimate of a Bloomberg survey of economists.

China is scheduled to post its manufacturing purchasing managers’ index for December tomorrow, with economists projecting a drop to 51.2 from 51.4 in November. Readings above 50 signal expansion. South Korea reports trade data tomorrow.

Futures on the Standard & Poor’s 500 Index were little changed today after the index closed near an all-time high in New York yesterday, set for the biggest annual gain since 1997. The Dow Jones Industrial Average added 0.2 percent to a record. Trading volumes on both gauges were more than 35 percent below the 30-day average, data compiled by Bloomberg showed.

The Nikkei 225’s jump was the biggest gain among 24 developed markets tracked by Bloomberg this year. The yen declined 17 percent against the dollar, its steepest annual drop since 1979. Stocks surged and the currency weakened as Prime Minister Shinzo Abe and Bank of Japan Governor Haruhiko Kuroda took steps to end 15 years of deflation.

Gold producers retreated after the precious metal fell in New York. Perseus lost 3.9 percent to 24.5 Australian cents, Medusa Mining Ltd. declined 2.9 percent to A$2.04 and Silver Lake Resources Ltd. fell 1.8 percent to 53.5 Australian cents.

To contact the reporter on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net

To contact the editor responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net

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