Canon Inc. (7751), a Japanese camera maker that gets 81 percent of its revenue abroad, rose 0.9 percent. BHP Billiton Ltd. (BHP), the world’s biggest resources company, climbed 1.4 percent as oil and metal prices gained. NEC Corp. slid 7.1 percent after the Japanese maker of personal computers forecast its third loss in four years and said it will cut 10,000 jobs. Nintendo Co. dropped 4.7 in Tokyo after the world’s largest maker of game consoles tripled its loss forecast.

The MSCI Asia Pacific Index rose 0.3 percent to 123.01 as of 11:43 a.m. in Tokyo. The measure has risen 1.9 percent this week, set for a sixth weekly gain, the longest streak since the period ended Oct. 15.

“Stocks are reacting to Noda’s comments,” said Takeru Ogihara, chief strategist in Tokyo at Mizuho Trust & Banking Co., a unit of Japan’s third-largest bank by market value. “Japanese exporters want the government to make a show of support.”

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net

http://www.bloomberg.com/news/2012-01-27/asian-equities-snap-two-day-rally-as-u-s-home-sales-decline-yen-advances.html

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