Most stock markets finished up across Asia on Friday, with shares on the Japanese bourse closing at an eight-month high amid hopes the economy would pick up soon.
Tokyo's NIKKEI Stock Average of 225 selected issues gained 16.59 points, or 0.14 percent, to end at 11,873.05 points -- its highest closing since 11,896.01 on July 1 last year.
Major steelmakers rose amid expectations of solid earnings as the Japanese economy recovers. Sumitomo Metal Industries Ltd gained 4.8 percent while JEF Holdings Inc climbed 0.6 percent.
Hiroshi Arano, a managing director at Dai-ichi Kangyo Asset Management, said rising hopes for Japan's economy pushed up the market.
"Some investors now expect the economy to pick up from the January-March period after bottoming in December," he said.
In currencies, the dollar rose against both the yen and the euro in Tokyo on the view that US economic data due later Friday would show solid US job growth.
Shares ended slightly lower in Taipei as declines in technology heavyweights more than offset gains in some old-economy blue chips.The TAIEX closed down 8.76 points, or 0.1 percent, at 6,193.62.
In Hong Kong, share prices retreated on investors' jitters that major companies may report disappointing corporate earnings this year.
The Hang Seng Index dropped 161.59 points, or 1.2 percent, to end at 13,730.78. On Thursday, the Hang Seng shed 41.59 points, or 0.3 percent.
Several major Hong Kong blue chips, including HSBC Holdings PLC, have reported favorable financial results for last year, but they were just in line with consensus expectations.
Philippine shares closed at a new five-year high, reversing from initial weakness as foreign funds continued to flow into select blue chips led by Philippine Long Distance Telephone Co. The 30-company Philippine Stock Exchange Index advanced 31.42 points, or 1.5 percent, to 2,124.69 -- ending at its highest level since its close at 2,140.78 on Jan. 9, 2001.
South Korean shares closed slightly higher, helped by gains in banking stocks, which rose following improved January service-sector output data. The Korea Composite Stock Price Index, or Kospi, closed up 2.04 points, or 0.2 percent, at 1,012.96.
Australia's share market ended at a record high, finishing its strongest week in two years despite a flurry of mixed economic data. The benchmark S&P/ASX 200 index rose 15.2 points, or 0.4 percent, to a closing high of 4,220.4, completing a gain of about 90 points for the week.
New Zealand shares finished flat with trade continuing to flow at a trickle in the wake of the recent reporting season. The NZSX-50 gross index ended 4.75 points higher at 3,200.09, while the NZSX all capital index was up 1.13 points to 1045.68.
China's shares ended lower as investors retreated to the sidelines with the start of the annual session of China's legislature. The benchmark Shanghai Composite Index, which tracks both A and B shares, fell 0.5 percent to close at 1,287.71, falling for the sixth session running. The Shenzhen Composite Index lost 0.4 percent to end at 323.50.
Indonesian shares ended higher, led by gains in cigarette makers Gudang Garam and Hanjaya Mandala Sampoerna on expectations they will report solid 2004 earnings. The Jakarta Stock Exchange Composite Index ended up 8.412 points, or 0.8 percent, at 1,103.008, after climbing as high as 1,106.256.
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