LG.Philips, Sony lead Asian Stocks Rise

Asian stocks rose after LG.Philips LCD Co., the world’s biggest maker of liquid crystal displays, reported higher-than-expected profit and said prices will rise this quarter. Sony Corp. led gains by technology companies.

``Demand is picking up in some areas, so all in all there’s increasing optimism for the tech sector toward year-end,’’ said Koichi Ogawa, who helps oversee about $ 28 billion at Daiwa SB Investments Ltd. in Tokyo.

The Morgan Stanley Capital International Asia-Pacific Index, which tracks more than 1,000 stocks, climbed 0.6 percent to 99.43 at 2 p.m. in Tokyo. Technology companies accounted for more than a quarter of the benchmark’s advance.

Japan’s Nikkei 225 Stock Average added 0.3 percent and Taiwan’s Taiex index rose 0.8 percent. Indexes in Australia, Hong Kong and Singapore were little changed, while they dropped in China. Benchmarks elsewhere in the region advanced.

Thailand’s SET Index climbed 1.1 percent, the region’s biggest mover, as the baht strengthened against the dollar and on expectations Prime Minister Thaksin Shinawatra will release plans today to boost economic growth.

In the U.S., the Nasdaq Composite Index rose to a six-month high. The Philadelphia Semiconductor Index jumped 2 percent to a one-year high on optimism technology companies will report higher profit this week.

``The U.S.-related stocks are going to fire up as earnings reports start coming out,’’ said Troy Angus, who manages about $ 32 billion at BT Financial Group in Sydney. ``The resilience of the U.S. is going to surprise a lot of people.’’

Earnings Ahead

LG.Philips, the world’s largest maker of liquid crystal displays used in monitors and televisions, surged 3.7 percent to 47,200 won. Second-quarter profit was 41 billion won ($ 39 million), beating the 1.5 billion won median estimate of eight analysts surveyed by Bloomberg.

Prices at the end of September will probably rise from the end of June by a ``single-digit’’ percentage, it said.

Sony, the world’s No. 2 consumer electronics maker, gained 1.5 percent to 3,950 yen. Kyocera Corp., a Japanese electronics parts maker, rose 1.1 percent to 8,350 yen.

More than half of the 162 computer-related companies in Japan’s Topix index, including Sony and Kyocera, are scheduled to report earnings this month. Another 70 companies will report in August.

Stats ChipPac Ltd., the world’s No. 3 provider of testing and packaging services for semiconductors, rose 2.4 percent to S .28. The Singapore-based company yesterday forecast second- quarter sales of about $ 264 million, 13 percent higher than the three months ended March 31.

Room to Rise

``Tech stocks are likely to advance further,’’ said Kim Hyun Tae, who helps oversee $ 500 million in funds at Landmark Asset Management Co. in Seoul. He favors shares of Samsung Electronics Co.

AU Optronics Corp., Taiwan’s largest maker of flat-panel displays used in computers and televisions, rose 1.2 percent to NT$ 52.50. Samsung Electronics, the world’s largest computer memory chip maker, rose 1.9 percent to 543,000 won.

The SET Index added 1.1 percent, set for its biggest advance since June 21. The baht gained for a second day, rising 0.3 percent against the dollar to 41.95.

A stronger baht would help reduce costs for imported goods such as crude oil. Thaksin will give a televised address at 9 p.m. in Bangkok on measures to boost the economy and cut energy imports. Gross domestic product fell a seasonally adjusted 0.6 percent from the fourth quarter, when it expanded 1.5 percent.

PTT Pcl, Thailand’s biggest publicly traded company, rose 1 percent to 212 baht. The company controls the country’s biggest oil refiner. Siam Cement Pcl, the nation’s biggest industrial company with businesses in cement and petrochemicals, added 0.9 percent to 220 baht.