A survey by Merrill Lynch & Co. indicates that Japan has regained its position as investors' favorite region, Bloomberg reports, saying Mitsubishi UFJ Financial Group Inc. may lead the advance.

Commodity stocks are predicted to rise along with the price of crude oil. `"The market may rebound,'' Hiroichi Nishi, an equities manager at Nikko Cordial Securities Inc. in Tokyo, told Bloomberg. ``Commodities companies and stocks with strong earnings may lead gains.''

This is despite reports in Japan's Nihon Keizai newspaper that the delay of Sony Corp.'s release of its PlayStation 3 could spur a decline in the company's stock.