Good news out of US boost Asia

ASIAN stocks rose, pushing a regional benchmark to a one-month high, as United States productivity and jobs reports eased concern that the world's largest economy will fall into a recession.

Mitsubishi UFJ Financial Group Inc and Hang Seng Bank Ltd climbed on expectations the US will announce measures to contain subprime-mortgage losses after home prices fell. Samsung Electronics Co led gains among technology stocks after brokerages forecast rising computer and software demand, Bloomberg News said.

The MSCI Asia Pacific Index added 1.4 percent to 164.72 as of 5:31pm in Tokyo, heading for its highest close since November 7. Japan's Nikkei 225 Stock Average added 1.7 percent. All major markets in the region advanced.

Mitsubishi UFJ, Japan's biggest publicly traded bank, rose 6.6 percent to 1,228 yen (US$11.08). Sumitomo Mitsui Financial Group Inc, the nation's second-largest by market value, climbed 6.6 percent to 971,000 yen.

Hang Seng Bank, a unit of HSBC, climbed 5.1 percent to HK$166.90 (US$21.41).