HONG KONG (Bloomberg) -- Asian stocks rose after Denso Corp. boosted its profit forecast and Mirae Asset Securities Co. reported net income more than tripled, easing concern earnings growth in the region will slow.

Toyota Motor Corp., which holds a stake in Denso and is the Japanese auto-parts maker’s biggest customer, climbed to the highest in almost three weeks. Mirae Asset, South Korea’s second-largest brokerage by value, advanced to a record.
“This earnings season is pretty healthy,” said Jon Easton, who manages about $100 million in Japanese equities at EN Asset Management in Tokyo. “This is a tremendous buying opportunity right now.”
Hynix Semiconductor Inc. rose on plans to start producing digital camera components after a three-year ban on new types of products ended this month. Suzuki Motor Corp., Japan’s second-largest minicar maker, climbed after raising its profit forecast.
The Morgan Stanley Capital International Asia-Pacific Index added 0.1 percent to 171.27 as of 7:17 p.m. in Tokyo, taking its gain this month to 4.9 percent. The Nikkei 225 Stock Average advanced 0.5 percent to 16,737.63.
Hong Kong stocks fell, capping the Hang Seng Index’s biggest monthly advance in eight years, after an earnings report from Angang Steel Co. raised concern the measure’s recent gain to a high may have been overdone. Benchmarks also fell in Taiwan, Thailand, the Philippines, New Zealand, and Indonesia.
BHP Billiton Ltd. and CNOOC Ltd. dropped after crude oil fell by the most in almost three months and metals prices declined. Posco led steelmakers lower on concern rising raw-material costs will erode earnings after U.S. Steel Corp. said third-quarter profit tumbled.
------------------------------ Honda, Suzuki
Denso rose 7.9 percent to 4,650 yen, its biggest rally since March 2001. Toyota, Japan’s biggest carmaker, added 2.5 percent to 6,570 yen, its highest close since Oct. 11. Honda Motor Co., the second largest, climbed 2.4 percent to 4,300 yen. Toyota was the biggest single contributor to the MSCI Asia-Pacific index’s advance.
Denso raised its profit forecast 10 percent as it sold more components for diesel cars in Europe. The parts maker said it expects net income of 228 billion yen ($2 billion) in the year ending March 31, up from an earlier forecast of 207 billion yen.
Suzuki also raised its full-year profit forecast as demand for fuel-efficient vehicles in India and Europe boosted first-half earnings. The shares gained 1.6 percent to 3,760 yen.
Mirae soared by the daily limit of 15 percent to close at a record 169,500 won. Net income surged to 83 billion won ($92 million) in the three months ended Sept. 30, the brokerage said.
------------------------------------- Seeking allies
Oil & Natural Gas Corp. gained 2.3 percent to 1,247.90 rupees. India’s biggest explorer said Tuesday profit increased 22 percent to 50.97 billion rupees ($1.3 billion) in the three months ended Sept. 30. That beat the 48.1 billion rupee median estimate in a Bloomberg News survey of analysts.
Mitsubishi UFJ Financial Group Inc. climbed after the Nikkei newspaper said Japan’s largest publicly traded bank will buy back shares for the first time. The company confirmed the plan after trading closed. The stock advanced 2.5 percent to 1,139 yen, the highest close in more than two weeks.
Hynix, the world’s second-largest memory-chip maker, climbed 0.6 percent to 25,000 won. Hynix is seeking allies to start production of so-called CMOS chips that convert light into digital signals, Chief Executive Officer Kim Jong Kap said. It had been prevented from entering such businesses under a 2002 bailout, which led to a Citigroup Inc. buyout fund acquiring the Korean chipmaker’s non-memory unit to help stave off bankruptcy.
------------------------------ BHP, Posco
Angang Steel, China’s third-largest steelmaker by output, slid 6.2 percent to HK$28.15 in Hong Kong, its biggest decline since Oct. 22. The company said third-quarter profit fell 18 percent to 1.76 billion yuan ($236 million) on increased costs.
Semiconductor Manufacturing International Corp., China’s biggest chipmaker, dropped 1.1 percent to 88 Hong Kong cents after it posted a third-quarter loss of $25.6 million and forecast a third straight three-monthly loss.
BHP, the world’s biggest mining company and Australia’s No. 1 oil producer, slid 1.7 percent to A$46.10. CNOOC, China’s largest offshore oil producer, lost 4.5 percent to HK$16.16, its biggest decline since Oct. 4.
Crude oil futures declined 3.4 percent from a record to $90.38 a barrel in New York, the biggest drop since Aug. 6. The contract was recently at $89.97 in after-hours trading. A measure of six metals traded on the London Metal Exchange, including copper and nickel, dropped 1 percent Tuesday.
------------------------------ ‘Under pressure’
“The drop in commodity prices has hit the resources and people are realizing these companies are still under a lot of pressure,” said Michael Birch, who helps manage the equivalent of $146 million at Wallace Funds Management in Sydney.
Posco, Asia’s biggest steelmaker by market value, dropped 4.4 percent to 645,000 won. JFE Holdings Inc., Japan’s second-largest mill operator, fell 3.7 percent to 6,690 yen.
U.S. Steel, the largest U.S.-based steelmaker, said third-quarter profit slumped 35 percent, with its European business falling on higher costs for raw materials such as iron ore. U.S. Steel’s European business accounted for more than half of profit in the second quarter.