SYDNEY, Aug 14 — Asian stocks rose for a fifth day, with Japan leading gains on low trading volumes as the yen traded near its lowest level in a week versus the dollar. Hong Kong cancelled morning trading owing to a typhoon.

Nissan Motor Co., a carmaker that gets 80 per cent of sales outside Japan, climbed 1.3 per cent. Computershare Ltd. sank 5.4 per cent in Sydney, the most in two years, after the share-registry firm reported profit fell. Brokerages and real-estate firms led gains on Japan’s Topix index.

The MSCI Asia Pacific Index rose 0.2 per cent to 135.27 as of 9:30am in Hong Kong as six of the 10 industry groups on the gauge advanced. The gauge is heading for its longest stretch of gains in six weeks.

“Keep building those constructive risk positions with the improving global backdrop,” George Boubouras, Melbourne-based chief investment officer at Equity Trustees Ltd., where he helps oversee about US$28 billion (RM90.9 billion), told Bloomberg TV. “We are overweight global equities. We’re still playing the big multinationals in Asia.”

US retail sales advanced for a fourth month, data showed yesterday, after other reports showing German investor confidence and Japanese machinery orders topped estimates and euro-area factory output expanded in June.

About 50 per cent of companies on the MSCI Asia Pacific gauge that have posted profits this earnings season beat analysts’ estimates, data compiled by Bloomberg show. The gauge traded at 13.1 times estimated earnings yesterday, compared with 15.4 for the Standard & Poor’s 500 Index and 14 times for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.

Japan volume

Japan’s Topix index added 0.5 per cent. Daily trading volume on the Topix fell to the lowest this year on Aug 12 and remained near that level yesterday, with fewer than two billion shares changing hands during the summer vacation. Volume today was 20 per cent below its 30-day average for the time of day.

The Topix index surged 35 per cent this year through yesterday, retaining its position as the world’s best-performing developed equity market, amid optimism Prime Minister Shinzo Abe will push through reforms while the Bank of Japan provides record stimulus to spur a recovery in Asia’s second-largest economy.

Australia’s S&P/ASX 200 Index fell 0.1 per cent. New Zealand’s NZX 50 Index was little changed as the statistics office said retail sales accelerated last quarter.

Taiwan’s Taiex Index sank 0.3 per cent and Singapore’s Straits Times Index was little changed. South Korea’s Kospi index swung between gains and losses after the country’s jobless rate remained unchanged for a third month.

Morning trading in Hong Kong was cancelled after the city issued a No. 8 storm signal, the third highest.

Futures on the Standard & Poor’s 500 Index slipped 0.1 per cent today. The S&P 500 rose 0.3 per cent yesterday as data on US retail sales reinforced signals the world’s largest economy is expanding moderately. — Bloomberg