Asian Stocks Rise; Nissan Motor, Mitsubishi UFJ Lead Advance

Asian stocks rose, driving benchmarks in Hong Kong, India, South Korea and Malaysia to records, after Nissan Motor Co. reported profit that exceeded analysts' estimates and oil surpassed $93 a barrel for the first time.

Nissan surged the most in more than seven years and Cnooc Ltd., China's biggest offshore oil producer, rose to a high. Mitsubishi UFJ Financial Group Inc. led banks higher after Countrywide Financial Corp., the largest U.S. mortgage lender, said it will rebound from subprime losses, indicating the worst may be over for the industry.

``Results haven't been bad at all,'' said Yoshihisa Okamoto, who helps manage $26 billion in at Mizuho Asset Management Co. in Tokyo. ``Countrywide's news is certainly working to boost stocks here today.''

The Morgan Stanley Capital International Asia-Pacific Index gained 2.4 percent to 172.04 at 6:12 p.m. in Tokyo, with all 10 of its industry groups advancing. Benchmarks in 12 countries rose.

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