Business news for Mon, 24 Dec 2007 & with words forecast+pacific. 2 news.

ASIAN stocks rose for a second day, led by electronics makers, after consumer spending increased more than forecast in the United States, the region's biggest export market. Hon Hai Precision Industry Co, maker of iPods for Apple Inc, and Samsung Electronics Co climbed to the highest in more than a week. The Standard & Poor's 500 Index advanced the most in three weeks last Friday after the report on November spending eased concern about recession in the world's biggest economy. "US shares showed firm gains, and we're seeing the influence in shares today (yesterday)," said Kim Jae Dong, who oversees the equivalent of US$8.6 billion at Korea Investment Trust Management Co in Seoul. BHP Billiton Ltd led an increase among miners after metals prices climbed, and a UK regulator set a deadline for a formal takeover bid for Rio Tinto Group. The MSCI Asia Pacific, excluding Japan Index, rose two percent to 524.1 as of 3:38pm in Hong Kong, with all 10 industry groups climbing.

THE prospects of rising profit for China Pacific Insurance (Group) Co have created a buzz among stock analysts who forecast that the insurer's stock is likely to jump about 50 percent on its A share debut today in Shanghai. Everbright Securities Co expects shares of Pacific Insurance to be between 42.60 yuan (US$5.81) and 44.30 yuan apiece, up from its offering price of 30 yuan. Guotai Jun'an Securities has a higher valuation of 43.80 yuan to 46.80 yuan while Haitong Securities sees a range of 40.64 yuan to 45.22 yuan. Pacific Insurance raised 30 billion yuan in its Shanghai initial public offering last week, making it the sixth-biggest IPO on the Chinese mainland. The Shanghai-based insurer sold one billion yuan-backed new shares, or 13 percent of its enlarged capital, at the top end of its offering price range of 27 yuan to 30 yuan. "Pacific is the sole comprehensive insurer whose business is balanced between life and property and casualty insurance," said Pan