(Nov 11): Asian stocks rose, with the regional benchmark index rising a third day, after U.S. gauges closed at record highs, while bond risk fell to the lowest in a month. Precious metals climbed while South Korea’s won weakened.

The MSCI Asia Pacific Index advanced 0.2 percent by 12:26 p.m. in Tokyo, with the Topix index increasing 0.4 percent and Hong Kong’s Hang Seng Index climbing 0.6 percent. Standard & Poor’s 500 Index futures were little changed after the gauge closed at a fresh all-time high. A measure of Asian credit- default swap prices fell to the lowest since Oct. 3. Gold climbed 0.3 percent. The won slipped 0.3 percent versus the dollar, while Australia’s currency gained.

U.S. equity indexes have risen to records amid signs the economy is weathering a global slowdown and the end of the Federal Reserve’s bond purchases. Japan, which unexpectedly boosted stimulus to support its economy Oct. 31, posted a wider- than-expected current-account surplus today. Both the U.S. and China post October retail sales data later this week. U.S. Treasuries trading is closed today for a holiday.

“The rally in the U.S. market looks sustainable, supported by strong earnings growth,” Khiem Do, Hong Kong-based head of multi-asset strategy at Baring Asset Management Ltd., said by phone. “U.S. stocks aren’t cheap but they’re nowhere near bubble valuations. There’s a little bit of a tailwind for Asian equities given that the region’s economic growth slowing. People are hoping for more monetary easing in Asia, particularly in China.”

Eight of the 10 industry groups on the Asia-Pacific gauge advanced today, led by consumer staples companies as Amorepacific Corp., a Korean cosmetics maker, surged 7.3 percent in Seoul after reporting earnings. Yakult Honsha Co., which produces fermented-milk drinks, climbed 4.3 percent in Tokyo after its shares were raised to buy from neutral by Mizuho Securities Co. analyst Hiroshi Saji.

Hyundai Jumps

The Kospi index added 0.3 percent in Seoul. Hyundai Motor Co. jumped as much as 6 percent, the most since Oct. 23, as South Korea’s largest carmaker announced a share buyback.

Australia’s S&P/ASX 200 Index lost 0.2 percent in a second day of declines, while the NZX 50 Index added 0.4 percent in Wellington, extending a record.

Hong Kong’s Hang Seng Index advanced for a second day and the Hang Seng China Enterprises Index, which tracks mainland Chinese shares listed in the city, added 0.8 percent. The Enterprises gauge climbed the most this month yesterday, while the Shanghai Composite Index increased 1.2 percent today after surging to its highest close in almost three years yesterday.

Oil Slides

Kunlun Energy Co., a Chinese oil and gas supplier, led declines by energy shares, falling 2.8 percent in Hong Kong as crude oil resumed its retreat. West Texas Intermediate oil fell 0.2 percent to $77.25 a barrel and Brent crude in London slid to $82.07.

Alibaba Group Holding Ltd., the Chinese e-commerce giant that debuted in New York this year, jumped 4 percent to a record $119.15 yesterday. With China celebrating Singles Day today -- a twist on Valentines Day -- the company is aiming to exceed the amount of transactions it recorded on Nov. 11 last year, when more than $1 billion of goods were sold via its platform in the first 20 minutes of the day, according to the Hangzhou, China- based company’s website.

The S&P 500 rose 0.3 percent to a record 2,038.26 in the U.S., bringing its rebound from a six-month low reached Oct. 15 to 9.4 percent. The index rose 0.7 percent last week for a third straight weekly gain. The Dow added 0.2 percent to an all-time high of 17,613.74 yesterday.

Gold climbed to $1,154.83 an ounce on the spot market after retreating 2.3 percent yesterday amid concern demand for the precious metal is waning among investors. Silver was little changed at $15.62 an ounce following yesterday’s 1.1 percent drop, while platinum and palladium were up at least 0.4 percent.

Won Slips

The South Korean won resumed declines, weakening for the eighth time in nine days. The currency lost 0.3 percent to 1,087.69 per dollar, after gaining 0.8 percent yesterday amid a retreat in the greenback following U.S. payrolls data.

The Malaysian ringgit was down 0.4 percent to 3.3422 a dollar following yesterday’s 0.5 percent gain, with data on industrial production for September due today.

The Bloomberg Dollar Spot Index, a gauge of the greenback versus 10 major peers, weakened 0.1 percent after rising 0.3 percent yesterday. The yen was steady at 114.76 per dollar following a 0.2 percent drop last session. The euro strengthened 0.1 percent to $1.2436.

One-month non-deliverable forwards on Russia’s ruble slipped 0.4 percent today. The currency, down 28 percent this year versus the dollar, surged yesterday after the country’s central bank said it will limit the amount of rubles available for selling.

The first test of how far the Bank of Russia will take this policy will come today at an auction for short-term loans known as repos. At the last offering of week-long repurchase agreements on Oct. 31, lenders borrowed 2.85 trillion rubles ($62 billion), up from a nine-month low of 1.83 trillion on Sept. 30.