Asian Stocks Rise for a Third Day

Asian stocks rose for a third day, with indexes in South Korea, China and Indonesia set for records.
Samsung Electronics Co. advanced after LG.Philips LCD Co. reported a loss that was smaller than some analyst estimates and as Banc of America Securities LLC said Intel Corp.'s profit will match its forecast. Rio Tinto Group led mining companies higher after copper prices advanced to a seven-month high and U.S.- based Alcoa Inc. posted its most profitable quarter ever.

The Morgan Stanley Capital International Asia-Pacific Index added 0.1 percent to 147.80 as of 12:36 p.m. in Tokyo, set for its highest since Feb. 27. A three-day gain will be the measure's longest rally since a similar period ended March 26.

``The LCD industry has entered a recovery phase and profitability is likely to continue to improve,'' said Kevin Yang, chief investment officer at Paradigm Asset Management Co., which oversees $360 million in assets. ``The worst is over.''

Japan's Nikkei 225 Stock Average dropped 0.2 percent to 17,634.15, while the broader Topix index declined 0.1 percent. Kubota Corp., the country's largest maker of farm equipment, fell on a report that showed Japanese machinery orders slipped more than expected in February.

Benchmarks advanced in Taiwan and Thailand, while indexes in Singapore and Malaysia touched record highs.

U.S. shares rose yesterday, boosted by improved profit outlooks for Intel Corp. and Exxon Mobil Corp. The Dow Jones Industrial Average gained for an eighth day, the longest winning streak since March 2003.