Asian bank and electronics maker stocks rose after the International Monetary Fund said it will lift its world growth forecasts, overshadowing declines among commodity companies on lower copper and oil prices.

IMF’s first deputy managing director, said on June 19 that the fund expects to raise its world growth forecasts “modestly upward.” “Financial conditions have improved, confidence has recovered gradually and indicators of production and demand have firmed,”. The IMF is scheduled to release its updated World Economic Outlookon July 7.

Japanese business confidence improved for the first time in three quarters and demand for services rose, adding to signs the country’s worst postwar recession is easing. Sentiment among large manufacturers increased to minus 13.2 points compared with a record low of minus 66 three months ago, a government survey showed today.

Gross domestic product o Japan will grow an annualized 1.5 percent this quarter, according to the median estimate of 11 economists. GDP contracted a record 14.2 percent in the previous period.

The yen gained for the first time in four days versus the euro and the dollar rose on concern Iran’s political situation is deteriorating after a week of clashes between police and protesters, spurring demand for safer assets.

Billionaire hedge fund manager George Soros said the worst of the global financial crisis is over, and called for new international regulations to maintain open markets.

India’s western coast is likely to get “very heavy” rains in the next two to three days, the weather bureau predicted on its Web site. The monsoon will advance to more parts of Maharashtra, Andhra Pradesh  and Karnataka states, including Mumbai, the nation’s financial capital, in the next 48 hours, the India Meteorological Department said. Indian stock markets are likely to open positive and may continue to remain positive during the day.