RPT-GLOBAL MARKETS-Asian stocks rise, oil stays near record high

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By Tom Miles

HONG KONG, May 14 (Reuters) - Asian stocks staged a late surge on Wednesday to take the Tokyo and Sydney markets to four-month closing highs, despite weakness in the financial sector and oil prices holding near to record high levels.

European markets took their cue from a firm Asia, with major indexes rising at the open. Britain's FTSE 100 .FTSE was up 0.4 percent, Germany's DAX .GDAXI gained 0.4 percent and France's CAC .FCHI pushed close to 1 percent higher in early dealings.

Asian shares made a cautious start on Wednesday, irked by inflation warnings from the U.S. Federal Reserve that underlined the risk that U.S. interest rates will be on hold for now. U.S. consumer price data is due for release later in the day.

Although banking shares remained in the doldrums, the prospect of a firm dollar buoyed exporters such as Japan's Honda Motor Co (7267.T: Quote, Profile, Research), which raced ahead 3.1 percent.

The Nikkei average .N225 rose 1.2 percent for its highest close since January, while other Asian stocks .MIAPJ0000PUS were steady.

Despite the firm tone, Charles Prideaux, BlackRock's chief operating officer, global equities, said he remained cautious.

"We believe this is going to be more of a grinding environment where companies with robust business models and good earnings visibility will be able to prosper because of the pockets of economic growth that remain," he said in a statement.