Asian stocks rose, lifting the MSCI Asia Pacific Index from a two-week low, as the dollar advanced against the yen and Taiwan said it may allow Chinese investors to buy stakes in its flat-panel and computer-chip industries.

Nissan Motor Co., which gets 36 percent of its sales from North America, gained 3.3 percent as a stronger dollar bolstered the outlook for U.S. profit. Taiwan Semiconductor Manufacturing Co. jumped 4.9 percent in Taipei on speculation Chinese investors will purchase shares in the company. Commonwealth Bank of Australia added 2.1 percent after the government reported lower- than-forecast budget deficit figures.
The MSCI Asia Pacific Index rose 1.1 percent to 117.20 as of 6 p.m. in Tokyo after closing yesterday at its lowest since Sept. 15. The measure had fallen 2.4 percent in the past three days, the longest series of declines since the six days ended July 8. The gauge has risen 66 percent from a five-year low on March 9.
“There hasn’t been much pullback in the market as investors are probably expecting third-quarter earnings to be better than estimated,” said Pearlyn Wong, Singapore-based investment analyst at Bank Julius Baer Co., which manages about $350 billion. “We still prefer Asian equities. The U.S. has a long way to go before the economy normalizes.”
Japan’s Nikkei 225 Stock Average climbed 0.9 percent to 10,100.20 even as the statistics bureau reported that the country’s consumer prices fell at a record pace in August. Nomura Holdings Inc., which announced a record share sale last week, climbed 4.4 percent for its first gain in 10 trading days.
The yen today declined to 90.23 per dollar from 89.63 yesterday, when it touched 88.24, the strongest level since Jan. 23. Japan’s currency dropped to 131.45 per euro from 131.06 in New York Monday.
Nissan climbed 3.3 percent to 599 yen, while Honda Motor Co., which gets 45 percent of its revenue from North America, gained 1.1 percent to 2,705 yen. Both stocks lost at least 5 percent yesterday on concern the yen’s strength will hurt profit.
Irregular movements
The government may act to stabilize the foreign-exchange market should currency movements become irregular, Japanese Finance Minister Hirohisa Fujii said at a news conference in Tokyo today. He denied saying he tolerates a stronger yen.
In Taipei, Taiwan Semiconductor, the world’s largest custom-chip maker, climbed 4.9 percent to NT$63.70. AU Optronics Corp., the world’s third-largest liquid-crystal-display maker, added 2.8 percent to NT$31.70. Taiwan is considering allowing Chinese investors to buy stakes in its flat-panel and computer-chip industries, Hsien-lin Huang, an official at the Ministry of Economic Affairs, said.
The island may also allow flat-panel and semiconductor companies to set up plants in China and buy stakes in Chinese companies, Huang said in a phone interview, confirming a Commercial Times report.