Asian Stocks Outside Japan Swing From Loss to Gain

Nov. 23 (Bloomberg) — Asian stocks outside Japan swung
between gains and losses as Lynas Corp. advanced and LG
Electronics Inc. fell.

Lynas, builder of the largest rare-earth refinery in
Malaysia, climbed 5.2 percent in Sydney as it prepares to start production in the Southeast Asian country. Ivanhoe Australia Ltd. dropped 9.7 percent after the mining company controlled by Rio Tinto Group sold shares at a discount. LG Electronics Inc., a South Korean electronics maker that gets about 16 percent of its sales in Europe, slipped 2.5 percent in Seoul before talks on a Greek bailout package continue next week.

The MSCI Asia Pacific Excluding Japan Index rose 0.1
percent to 440.53 as of 9:20 a.m. in Hong Kong, erasing losses of 0.1 percent. The gauge is heading for its first weekly
advance in three weeks as data on China manufacturing, U.S. jobs and housing added to signs the world’s two largest economies are on the mend.

“It is looking like a fairly subdued day,” said Cameron
Peacock, Melbourne-based analyst at IG Markets Ltd., a provider of trading services for equities, bonds and currencies.
“European leaders will be tied up with Greece and European
budget discussions for the next few days.”

Taiwan’s Taiex Index advanced 1.6 percent, while
Singapore’s Straits Times Index added 0.1 percent. South Korea’s Kospi Index lost 0.1 percent and Australia’s S&P/ASX 200 Index dropped 0.2 percent. Japanese markets are shut today, while
those in the U.S. were closed yesterday for holidays. Markets in China and Hong Kong have yet to open.

To contact the reporter on this story:
Jonathan Burgos in Singapore at
jburgos4@bloomberg.net

To contact the editor responsible for this story:
Nick Gentle at
ngentle2@bloomberg.net

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