Asian stocks up last week

ASIAN stocks rose last week, driving up the benchmark index by the most this year, on optimism the US Federal Reserve will succeed in stoking growth in the world’s biggest economy.

Mitsubishi Corp, Japan’s biggest commodities trader, advanced 7.8% in Tokyo as oil and metal prices climbed. Cnooc Ltd, China’s biggest offshore oil explorer, jumped 10% in Hong Kong. BHP Billiton Ltd and Rio Tinto Group, the world’s No. 1 and No. 3 mining companies, climbed more than 5% in Sydney. Nissan Motor Co, Japan’s No. 3 carmaker, gained 7.6% after reporting higher-than-expected earnings and raising its profit forecast.