Jan. 31 — Asian stocks rose, led by electronics companies and carmakers, after Seiko Epson Corp. and Daihatsu Motor Co. posted higher profits.
Seiko Epson, the world’s third-largest maker of inkjet printers, surged the most in three years. Daihatsu, Japan’s biggest minicar maker, had its steepest advance in five months. Hyundai Heavy Industries Co. rebounded from its worst plunge since Sept. 12, 2001, on speculation the sell-off was excessive.
The MSCI Asia Pacific Index gained 0.5 percent to 141.84 at 10:41 a.m. in Tokyo, reversing an earlier loss of 0.6 percent. Eight of the benchmark’s 10 industry groups rose.
Japan’s Nikkei 225 Stock Average added 0.1 percent to 13,326.55. South Korea’s Kospi Index climbed 0.8 percent.
The Standard & Poor’s 500 Index retreated 0.5 percent yesterday in the U.S, after the Federal Reserve reduced its benchmark rate to 3 percent from 3.5 percent to help the economy avert a recession.