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NEW YORK, Dec. 24 (Bloomberg): Asian stocks gained for a ninth week, the longest winning streak in more than 12 years. Technology shares gained on speculation Saudi Prince Alwaleed bin Talal may invest in Sony Corp. and after Samsung Electronics Co. said chip earnings will beat forecasts.
Computer chip-related stocks including Hynix Semiconductor Inc. and Chartered Semiconductor Manufacturing Ltd. advanced after brokerages recommended the shares.
``When you look at recent data, it all points toward the fourth quarter looking pretty good for LCDs and chips,'' said Kim Seong Ki, who oversees about $1.4 billion, including shares of Samsung, as chief investment officer at Chohung Investment Trust Management Co. in Seoul.
The Morgan Stanley Capital International Asia Pacific Index gained 2.6 per cent to 122.94 this week, the highest close since April 14, 2000. The nine-week, 14 per cent rally was the longest since the period ended May 7, 1993. All 10 industry groups rose.
Japan's Nikkei 225 Stock Average surged 5.1 per cent this week, the region's biggest gainer. Real-estate stocks including Mitsubishi Estate Co. gained after Mori Trust Co. said it's in talks to sell buildings in central Tokyo to American International Group Inc.
South Korea's Kospi gained 2.9 per cent, while the Taiex index climbed 2.6 per cent in Taiwan. Indexes rose around the region except in Malaysia and India, which were little changed.
A measure tracking makers of consumer electronics and computer chips jumped 4.3 per cent this week, the biggest gainer among the 10 that make up the MSCI regional index.
Sony, the world's second-biggest consumer electronics maker, jumped 8.2 per cent this week. Sony shares have slumped about 72 per cent from a record 16,300 yen in March 2000 as increased competition drove down electronics prices.
Alwaleed, who has made billions of dollars by investing in underperforming, brand-name companies, said Sony's fortunes may improve under its new foreign chairman, as Nissan Motor Co. did under the leadership of Carlos Ghosn. Alwaleed, who was interviewed by the Nihon Keizai newspaper, named Sony as a possible investment.
``I'm on the bullish side of technology stocks,'' said Koichiro Suzuki, who manages about $1.8 billion in Japanese equities at Sompo Japan Asset Management Co. in Tokyo. ``They have been neglected.''
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