Asian stocks rose after Japanese and US economic reports indicated growth in the world's two largest economies is sustainable. Toyota Motor Corp and Samsung Electronics Co led gains.
"We've got all the right signs as the economic fundamentals go," said Naoki Fujiwara, who manages the equivalent of US$180 million in equities at Shinkin Asset Management Co in Tokyo.
"The macro economic conditions globally remain quite strong to justify buying stocks."
The Morgan Stanley Capital International Asia-Pacific Index, which tracks more than 850 stocks, gained 0.6 percent to 88.94 at 8pm in Tokyo. That was the third straight advance, the longest winning streak since the three days ended April 7. It gained 2.6 percent this week.
Japan's Nikkei 225 Stock Average rose 1.3 percent and Topix index added 1.4 percent, after household spending had a record jump in April. In South Korea, the Kospi index gained 1.8 percent.
DBS Group Holdings Ltd led advances among Singapore's lenders after the central bank said it will lower a capital adequacy requirement, leaving them better able to compete with regional rivals. In Taiwan, banks advanced after Fitch Rating said the prospects for the industry is positive.
India's Sensex index shed 4.4 percent, the biggest decline in the region, led by power companies after the government said it would extend a deadline for state boards to split power generation and distribution assets.
All other benchmarks in Asia rose, except those of China and Malaysia.
Toyota Motor, the world's largest carmaker by market value, added 1.8 percent to ¥4,000. Ito-Yokado Co, Japan's No. 2 retailer, surged 3.2 percent to ¥4,490. Matsushita Electric Industrial Co, the world's No. 1 maker of consumer electronics, gained 1.3 percent to ¥1,526.
Household spending in April had its biggest gain since the government started tabulating the figure in 1975, jumping a seasonally adjusted 9.3 percent. Another report showed Japanese manufacturers increased production by 3.3 percent in April, the biggest gain in seven months.
"Japan's economic recovery is on the right track," said Osamu Nakashima, who helps manage US$117 billion at Sumitomo Mitsui Asset Management Co in Tokyo. "We are seeing enough evidence of growth and that's what's prompting buying into domestic stocks."
The Kospi climbed 14.05 to 816.51. Samsung Electronics, the world's second-biggest semiconductor maker, advanced 2.8 percent to 520,000 won. Hyundai Motor Co, Asia's largest carmaker outside of Japan, climbed 1.6 percent to 44,700 won.
South Korean industrial production increased a seasonally adjusted 1.1 percent in April after dropping 2.1 percent in March, the National Statistical Office reported in Seoul.
The US economy grew at a 4.4 percent annual pace from January through March, compared with a previous government estimate of 4.2 percent. US corporate profits jumped 31.6 percent in the year ended in March, the biggest increase since the first quarter of 1984, the Commerce Department said.
DBS Group, Singapore's largest bank by assets, rose 2.9 percent to S$14.20, while Oversea-Chinese Banking Corp, the No. 3, climbed 1.7 percent to S$12.
The island's central bank said it will lower the minimum capital adequacy requirement, bringing it closer to a standard applied to US, UK and other lenders.
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