June 21 (Bloomberg) -- Asian stocks advanced for a sixth day, the longest winning streak in almost eight months, after prices of computer-memory chips jumped and a report today showed Japan's export growth almost doubled in May.
Samsung Electronics Co. and Toshiba Corp. paced technology shares higher, helping the Morgan Stanley Capital International Asia Pacific Index to a record. China Mobile Ltd. led Hong Kong's Hang Seng Index to a new high after the Chinese government gave its approval for mainland brokerages to buy shares overseas.
``People are more optimistic about the longer-term outlook and look for opportunities to buy shares that lagged benchmarks, such as semiconductor stocks,'' said Hiroshi Chano, who helps manage $7.3 billion at Yasuda Asset Management Co. in Tokyo.
The MSCI index added 0.4 percent to 154.46 as of 7:28 p.m. in Tokyo, after climbing 2.9 percent in the previous five trading sessions. The measure last rose for six days in a row in the period ended Oct. 27.
Japan's Nikkei 225 Stock Average added 0.2 percent to 18,240.30, its highest since May 2000. Benchmarks in Australia and Thailand were the only fallers among the region's 10 biggest markets. China's CSI 300 Index also climbed to a new high.
U.S. shares dropped by the most in two weeks yesterday after the yield on the 10-year Treasury note, which influences rates on mortgages and corporate loans, ended a three-day decline. Yields also climbed in Japan, Australia and South Korea.
DRAM Prices
Samsung, the world's No. 1 computer-memory chipmaker, added 2.1 percent to 589,000 won. Hynix Semiconductor Inc., the second largest, surged 7.3 percent to 34,500 won. Elpida Memory Inc., Japan's biggest, rose 4.4 percent to 5,720 yen. Powerchip Semiconductor Corp., the largest in Taiwan, gained 2.3 percent to NT$20.40.
Prices for the benchmark 512-megabit dynamic random access memory chip, or DRAM, soared 17 percent to $2.21 yesterday, according to Dramexchange.com, Asia's biggest spot market for chips. That's the highest in more than six weeks.
The Bloomberg Asia Pacific Semiconductors Index, which tracks 21 of the region's biggest chipmakers, gained 1.7 percent to 146.04, erasing its loss for the year. The MSCI index is up 9.9 percent since the start of 2007.
``Most investors had anticipated a rally in chip-related shares because of the outlook that demand will recover toward the second half of this year,'' said Koji Uchida, who helps oversee $61 billion at Mitsubishi UFJ Asset Management Co. in Tokyo. ``The DRAM spot price news was good timing.''
Japanese Exports
Japan's exports rose 15.1 percent from a year earlier, compared with 8.2 percent in April, the Ministry of Finance said today. The gain was more than economists expected, a Bloomberg survey showed, and helped the trade surplus widen 9.3 percent to 389.5 billion yen ($3.2 billion).
Toshiba, the world's fourth-largest maker of notebook computers, rose 2 percent to 1,002 yen. Canon Inc., the world's largest digital camera maker, added 0.4 percent to 7,370 yen.
The Hang Seng Index added 1.3 percent after the securities regulator said mainland brokerages will be able to invest money outside the mainland for the first time, including in Hong Kong equities.
``The impact is going to be huge as more money will be coming to Hong Kong,'' said Renault Kam, a director of Atlantis Investment Management Ltd., which oversees $3 billion in Asia. Mainland companies listed in the city are likely to most benefit, as investors would ``rather buy shares of companies with backgrounds they know about.''
Mainland Money
China Mobile, the world's largest mobile-phone operator by users, jumped 2.4 percent to HK$82.35. Ping An Insurance (Group) Co., China's second-biggest insurer, rose 4.6 percent to HK$54. The company also won government approval to buy Ping An Bank to strengthen its banking operations.
China Life Insurance Co., the nation's biggest insurer, jumped today after its asset management unit announced a partnership to invest in the Chinese property market. The stock gained 6.3 percent to HK$28.50 in Hong Kong and 8.3 percent to 43.42 yuan in Shanghai.
Some shares of regional exporters declined on speculation higher bond yields will slow global economic growth and deter consumer spending. The yield on 10-year U.S. Treasuries rose 6 basis points to 5.14 percent yesterday.
In Australia, the yield on the government's 10-year bond climbed 6 basis points, or 0.06 percentage point, to 6.25 percent. The yield on Japan's 20-year government bond gained 4.5 basis points to 2.33, while South Korea's benchmark five-year government bond yield rose 10 basis points to 5.47 percent.
Interest Rates
``You're going to see a reaction from interest rate- sensitive stocks,'' said Paul Xiradis, who manages about $8.3 billion in Australian stocks at Ausbil Dexia Ltd. in Sydney. ``Markets are also correcting from their earlier view that interest rates in the U.S. and perhaps globally were on their way down.''
Nissan Motor Corp., Japan's No. 3 automaker, lost 1.6 percent to 1,330 yen. LG Electronics Inc., the world's second- largest plasma display maker, fell 2.4 percent to 79,000 won. Lenovo Group Ltd., the world's third-biggest personal computer maker, dropped 3.2 percent to HK$5.14 in Hong Kong.
Singapore's Olam International Ltd. rose by the most in seven weeks after it raised its offer for Australia's Queensland Cotton Holdings Ltd. to A$166.5 million ($140 million), or A$5.90 a share, securing the support of rival Louis Dreyfus & Cie. SA.
Olam, which supplies ingredients to companies such as Nestle SA and Kraft Foods Inc., rose 6.1 percent to S$3.48, the most since May 4. Queensland's stock slid 0.3 percent to A$5.88.
``We were surprised that Louis Dreyfus has decided to throw in the towel,'' said Tom Elliott, whose Melbourne-based hedge fund MM&E Capital Pty has built an 8 percent stake in Queensland since Olam's first bid, and hasn't decided to sell.
Coles Group Ltd. shares declined 2.1 percent to A$16.55 in Australia. A TPG Inc.-led buyout group quit plans to bid for the retailer after talks about a joint offer with Woolworths Ltd. broke down, the Australia Financial Review reported, without saying where it got the information. Coles said TPG hasn't advised the company of any withdrawal.
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