(Nov 18): Asian shares rose, led by a rebound in Japanese stocks as Prime Minister Shinzo Abe prepares to delay a sales-tax increase, call an election and order up a stimulus package. Indonesia’s rupiah jumped, while crude oil declined for a second day.

The MSCI Asia Pacific Index climbed 0.6 percent by 11:01 a.m. in Tokyo, where the Topix index added 1.6 percent after sliding the most since Oct. 2 yesterday. Standard & Poor’s 500 Index futures were little changed after the gauge closed at a record. Chinese property stocks retreated after home prices fell in 69 of 70 mainland cities last month. The rupiah strengthened 0.5 percent after Indonesia’s president raised fuel prices. Oil in New York fell 0.3 percent.

Abe is set to order further stimulus measures and announce the postponement of a sales-tax increase before sending Japan to the polls on Dec. 14, according to people familiar with discussions among lawmakers. The country’s central bank starts a two-day meeting today after data yesterday showed the world’s third-largest economy plunged back into recession. Reports on U.K. and U.S. producer prices are due with a survey of German investor confidence.

“Given the reaction that the economy has had, this is not an appropriate time for another sales-tax increase in Japan,” Chris Green, director of economics and strategy at First NZ Capital Ltd., said by phone from Auckland. “Outside of the U.S., there is fragility in the global economy, it’s flying on one engine and that has implications for monetary-policy settings.”

Nikkei Volatility

Japan’s Nikkei 225 Stock Average climbed 1.7 percent. The stock gauge sank 3 percent yesterday, its biggest one-day slump since August, after data showed gross domestic product unexpectedly dropped an annualized 1.6 percent last quarter, after a 7.3 percent contraction in the preceding three months. An index of volatility in the Nikkei 225 fell 4.3 percent today.

With public approval of his cabinet waning, Abe will order the creation of an economic-stimulus package today, said Ryu Shionoya, deputy policy chief of the ruling Liberal Democratic Party.

The yen held three days of declines versus the greenback, trading little changed at 116.57 per dollar after ending last session down 0.3 percent. The currency dropped as much as 0.7 percent yesterday to 117.05 a dollar, the weakest level since October 2007.

Indonesia announced an increase in fuel prices to reduce state energy subsidies yesterday, fulfilling a key election pledge of new President Joko Widodo in a bid to narrow the country’s budget deficit. The rupiah climbed to 12,144 per dollar today.

Australia’s dollar strengthened 0.2 percent to 87.21 U.S. cents after the nation’s central bank reiterated that benchmark interest rates will remain at a record low for a period and said the currency, known as the Aussie, remains overvalued. The New Zealand dollar climbed 0.4 percent to 79.4 U.S. cents. The S&P/ASX 200 Index retreated 0.2 percent in Sydney.

Hong Kong’s Hang Seng Index slipped 0.2 percent, while the Hang Seng China Enterprises Index retreated 0.3 percent. Both indexes slid more than 1.2 percent yesterday on the first day of a new stock-exchange link between Shanghai and Hong Kong. Demand from investors for Shanghai shares exhausted the daily quota for northbound purchases, triggering a halt in buy orders.

West Texas Intermediate crude dropped to $75.39 a barrel, after losing 0.2 percent yesterday and surging more than 2 percent Nov. 14. Brent oil in London declined 0.4 percent to $78.98.

Members of the Organization of Petroleum Exporting Countries are stepping up diplomacy before their Nov. 27 meeting, which will see a discussion over production levels. Iran’s oil minister is preparing to visit the United Arab Emirates this week, according to Shana, the Tehran-based ministry’s news service.