Exporters lead markets higher

HONG KONG, Dec 18 (Reuters) Asian stocks rose on Monday with Australia extending its record-breaking run, while strength in the dollar and upbeat U.S. data gave Asian exporters such as Sony Corp.

a lift.

US blue chips hit a record last Friday after data showed US consumer prices held steady in November and industrial production rose more than expected, easing inflation worries and underscoring resilience among producers in Asia's top export market.

''The positive U.S. economic data could bolster some exporter shares,'' said Kim Joong-hyun, an analyst at Goodmorning Shinhan Securities in Seoul, although he warned gains could be limited ahead of the year-end.

At 0023 GMT, Tokyo's Nikkei average had climbed 0.20 per cent as exporters such as Sony, chip-tester maker Advantest Corp. and electronics components maker Kyocera all rose more than 1 percent.

But Japan Tobacco slid 3.35 percent after it said last Friday it was buying British cigarette maker Gallaher Group Plc in an agreed 7.5 billion pounds (.7 billion) cash deal.

Australia's key S&P/ASX 200 index hit a fresh high of 5,597.2, surpassing the previous peak of 5,587.4 set on Friday as investors continued to buy firms with bright earnings prospects.

CSL, which last week lifted its 2007 profit forecast, rose 1.64 percent, while QBE Insurance put on 1.17 percent.

But mining giants BHP Billiton and Rio Tinto both fell after base metals faltered on Friday with copper plumbing six-month lows.

BHP shed 0.92 percent and Rio lost 1.06 per cent.

In South Korea, gains of 0.33 percent for market heavyweight Samsung Electronics, 1.10 percent for memory chip maker Hynix Semiconductor, helped drive the benchmark KOSPI up 0.50 per cent to two-week highs.

Pantech&Curitel Communications and Pantech Co. surged 7.34 percent and 3.75 per cent respectively after creditors approved a proposed debt rescheduling for the two handset-making arms of Pantech group.

MSCI's measure of Asian stocks excluding Japan was up 0.15 percent, after setting a new all-time high of 387.05, squeezing past the previous high of 386.70 set on Dec. 6.

US stocks rose on Friday, pushing the Dow to a record after tame consumer prices data reassured investors inflation was under control and the economy was strong enough to support growth.

The Dow ended 0.23 per cent higher, while the tech-heavy Nasdaq index added 0.14 per cent.

REUTERS PDS BST0734