Asia Stocks Hold Five-Month High as Greece Weighs Global Outlook

Asian stocks rose, with the regional benchmark index trading near a five month high, as Greek lawmakers worked to secure a bailout amid warnings Europe’s crisis threatens global demand.

Japan Tobacco Inc. paced advancing shares after the company raised its earnings forecast.

Cochlear Ltd., maker of the world’s top-selling ear implant, rose the most in seven weeks in Sydney trading after posting a narrower-than-estimated first- half loss.

Chinese stocks dropped as the Ministry of Industry and Information Technology said the world’s second-largest economy faces more uncertainty at home and abroad.

The MSCI Asia Pacific Index rose 0.2 percent to 125.13 at 5:44 p.m. in Tokyo after falling as much as 0.2 percent and rising as much as 0.3 percent.

Hong Kong’s Hang Seng Index slipped 0.1 percent while Japan’s Nikkei 225 Stock Average retreated 0.1 percent at the close. The broader Topix Index advanced 0.4 percent.

From: Business Week