Asian stocks rise after historic win

Asian stocks gained as Barack Obama's presidential victory sparked optimism his spending plans will help the economy recover from the credit crisis. The dollar rose and treasuries declined.

Toyota Motor Corp, which gets the biggest portion of its sales from North America, added 10 percent. Obama has urged Congress to pass a $175 billion economic stimulus bill immediately after the election. BHP Billiton Ltd led commodity shares higher after oil soared 10 percent on Monday. Mizuho Financial Group Inc surged 16 percent as money market rates fell, indicating credit markets are thawing out.

Obama "will attempt to change the way the US does business and how it conducts itself with the rest of the world," said Raymond Tang, who oversees $5.8 billion as chief investment officer at CIMB-Principal Asset Management Bhd, a unit Malaysia's second-biggest bank. "We wait with bated breath. It's a whole new world and a new fantastic point of view."