ASIAN stocks rose the most in a week, led by technology companies and auto makers, after higher profit forecasts by Fujitsu Ltd and Isuzu Motors Ltd bolstered speculation earnings will withstand a global slowdown.

Fujitsu, Japan's largest maker of business computers, surged the most in 17 years after forecasting profit will more than double. Isuzu rose to the highest in three weeks. HSBC Holdings Plc advanced in Hong Kong after reporting a gain in first-quarter profit , Bloomberg News said.

"Asian companies are still generally expected to grow at a reasonable rate," said Jean Salata, chief executive officer of Baring Private Equity Asia Group, which manages US$3.4 billion. "We do think valuations are much lower and more attractive than they were a year ago."

The MSCI Asia Pacific Index added 1 percent to 150.50 as of 7:25pm in Tokyo. Firms included in the index are trading at 15.6 times estimated earnings, compared with 18.7 times a year ago.

Japan's Nikkei 225 Stock Average jumped 1.5 percent to 13,953.73.

Nikon Corp, the world's second-biggest maker of cameras used by professionals, led gains after announcing its first share buyback in five years.

Indexes rose elsewhere in Asia, except in Australia, Malaysia and Sri Lanka.

Fujitsu soared 13 percent to 773 yen, the sharpest climb since October 1990. The company said on Monday earnings will likely more than double this year to 100 billion yen (US$964 million), buoyed by sales of software and electronic devices.

Isuzu, Japan's largest maker of light-duty trucks, advanced 6.2 percent to 515 yen.