ASIA STOCKS gained on Tuesday

Asian stocks rose, with the regional equities gauge on course to rebound from its biggest drop in two weeks, as a weakening yen pushed Japan’s Topix index to a seven-week high and industrial companies advanced.

The MSCI Asia Pacific Index gained 1.5% to 131.38, with all 10 industry groups on the gauge climbing.

Hong Kong’s Hang Seng Index (HSI) advanced 0.6%. The measure fell 9.2% this year through yesterday, the worst among 24 developed markets.

The Shanghai Composite rose 0.5%, having swung between gains and losses, as a report showed Chinese consumer prices rose more than forecast last month. Australia’s S&P/ASX 200 Index advanced 1.5% and South Korea’s Kospi index rose 0.7%. Singapore’s Straits Times Index added 0.8% and Taiwan’s Taiex Index increased 1.1%. New Zealand’s NZX 50 Index gained 0.7%.

Japan’s Topix index added 2.1% to close at the highest level since May 22. The gauge last week gained 4.8%, bringing its increase over three weeks to more than 12%, the most since April 2009, amid a weakening yen and optimism Prime Minister Shinzo Abe will push through economic reforms after winning upper house elections on July 21. The yen slid 0.3% to 101.25 per dollar in Tokyo.

Asian exporters gained. Toyota advanced 2.6% and Nissan Motor Co. climbed 4% in Tokyo. Yue Yuen Industrial (Holdings) Ltd., which makes shoes for Nike Inc., gained 1.9% in Hong Kong.

BHP Billiton Ltd., the world’s largest mining company, advanced 2.1% in Sydney as metals prices climbed. Olympus Corp. sank 5.4% in Tokyo after the biggest endoscope maker said it plans to sell as much as 118 billion yen ($1.2 billion) of shares.

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