ASINA stocks rose to an eight-week high yesterday as record oil and metals prices lifted materials companies, while earnings reports from across the region boosted confidence profits will withstand slower global growth.

Mitsui & Co, which depends on commodities trading for more than half its profit, advanced to the highest in five months, Bloomberg News reported.

AU Optronics Corp, the world's third-largest maker of liquid-crystal displays, rose to a six-week high after profit beat analysts' estimates.

"Commodities are everyone's favorite for the time being; everything's about commodities," said Jason Lee, who helps oversee the equivalent of US$2.1 billion as general manager of equities at Amanah Raya-JMF Asset Management in Kuala Lumpur. "Earnings growth is still there in Asia."

The MSCI Asia Pacific Index added 0.7 percent to 148.76 as of 6:29pm in Tokyo yesterday, set for the highest close since February 28. The benchmark has rallied 12 percent since dropping to a two- month low.

It's still down 5.7 percent this year on concern the United States economy will fall into a recession amid mounting losses at banks and brokerages tied to investments in subprime mortgages.

Japan's Nikkei 225 Stock Average gained 0.2 percent to 13,579.16. Most Asian benchmarks rose, led by China. Chugai Pharmaceutical Co. staged its biggest rally in more than two years after lifting its earnings forecast.

Nomura Holdings Inc, Japan's largest brokerage, dropped as it undergoes an insider-trading inquiry.

Standard & Poor's 500 Index futures expiring in June advanced 0.3 percent.