SYDNEY: Asian stocks rose as speculation European officials will help Greece tackle its budget deficit prompted investors to take on more risk through technology and energy shares. Drugmakers and utilities declined.

AU Optronics Corp. and Quanta Computer Inc. gained more than 3% in Taipei after boosting sales last month. Cnooc Ltd., China’s biggest offshore oil explorer, rose 3.2% as a partner made a discovery in the South China Sea. Sumitomo Mitsui Financial Group Inc. increased 2.1% in Tokyo after profit beat analyst estimates.

Japan’s Takeda Pharmaceutical Co. dropped 2.6% and Manila Electric Co. slumped 3.7%, leading declines among so-called defensive shares.

The MSCI Asia Pacific Index added 0.2% to 114.39 as of 4:18 p.m. in Tokyo, with 10 stocks rising for every nine falling.

The gauge has fallen 9.8% from a 17-month high on Jan. 15 on speculation central banks will tighten monetary policy, and that Greece, Spain and Portugal will struggle to curb deficits.

“Some confidence is building up that Greece would avert the worst-case scenario,” said Chu Moon Sung, a fund manager at Shinhan BNP Paribas Asset Management Co. in Seoul, which manages the equivalent to $26 billion in assets.

“Investors seem to be looking for stocks that turned cheaper after they panicked on the Greece issue.”