STOCKS NEWS ASIA-Asian ADRs rebound, Sony shines

HONG KONG, May 17 (Reuters) Asian stocks listed on Wall Street <.bkas> rose 0.78 percent, ending two straight sessions of declines as Japanese exporters such as Canon Inc. climbed after the dollar hit three-month highs against the yen.

Sony Corp. jumped 5.98 percent as investors cheered the conglomerate's forecast of a sharp rise in annual profit on strong sales of flat-screen TVs and digital cameras.

MSCI's measure of Asia Pacific stocks excluding Japan <.msciapj> added 0.13 percent on Wednesday and was within striking distance of a record high set on Monday.

On Wall Street, U.S. stocks advanced amid expectations of further corporate takeovers, driving the blue-chip Dow <.dji> up 0.77 percent to another record closing high.

-- HEADLINES: >US STOCKS-Indexes advance on expectations about deals [.N] >Dollar hits 3-mth high vs yen after solid data [nN16258286] >HP sales grow 13 pct, cost cuts raise margins [nN16257164] >Sony Q4 loss widens, sees sharp upturn ahead [nT161383] >Australia's Coles Group Q3 sales rise 0.6 pct [nSYU002373] >Hitachi posts loss, sees recovery on cost cuts [nT297351] >News Corp. buys Latvian TV to grow in new markets [nL16369456] >U.S. home building to slow, factory activity up [nN16185478] >Australia's Lion Nathan H1 profit up 3.6 percent [nSYU002372] >China's Belle raises $1.1 bln in popular HK IPO [nHKG295069] >Oil slips as U.S. crude, gasoline stockpiles grow [nSP90973] >ADR Report-ADRs flat on European earnings; Sony up[nN16492343] -- KEY INDEXES pct change Bank of New York Asia ADR index <.bkas> +0.78 Dow Jones Industrial Average <.dji> +0.77 Nasdaq Composite Index <.ixic> +0.88 MSCI Asia Pacific ex-Japan <.msciapj> +0.13 Nikkei futures in Chicago 17,675.00 Nikkei futures in Osaka 17,560.00 -- ASIAN ADR ACTION: 5 most actively traded: price change/pct TSMC +2.14 ICICI Bank +7.03 UMC +0.91 BHP Billiton +0.21 Mitsubishi UFJ -0.99 -- Top 5 performers: price change/pct ICICI Bank +7.03 SMIC +6.25 Sony Corp. +5.98 Guangshen Railway +5.50 KEPCO +5.22 -- Bottom 5 performers: price change/pct Prana Biotech -5.67 Santos -3.40 James Hardie -2.85 China Eastern -2.41 China Southern -2.22 -- TOP ASIA EVENTS: For more Asian company earnings, see [ASIA/EQTY] JAPAN - Earnings: Sumitomo Realty & Development , Rakuten - BOJ meeting ends, BOJ governor news conference - BOJ monthly economic report; Reuters tankan - Preliminary GDP for January-March HONG KONG - Composite interest rate at April-end; unemployment data for Feb-Apr AUSTRALIA - The Reserve Bank of Australia bulletin 0130 GMT - Coles Group Ltd. Q3 sales - Lion Nathan H1 results - AMP Ltd. annual shareholders meeting INDIA - Bajaj Auto quarterly earnings S.E ASIA - Public holiday in Indonesia -- REUTERS SRS VP0457