Asian stocks closed with mostly modest gains on Friday as investors paused for breath after another strong week and ahead of a key US employment report due later in the day, dealers said.
They said the tone remained overwhelmingly positive and if the day was mixed, that still meant several markets were at record levels while the rest were at highs not seen for five or six years.
Nothing at the moment appears able to halt the momentum -- oil prices at near US$68 and expected to rise to over US$70 seem to have no impact when a few months ago they would have been seen as a reason to sell.
Investors are confident too that inflation is contained and that while central banks may want to hike interest rates, any increases are going to be slow and moderate.
No one on Friday expected the US jobs report for last month to change that view, but in those circumstances any major surprises could have an impact tomorrow.
On the day, Tokyo added 0.42 percent and Sydney slipped 0.11 percent, while Seoul was up 0.38 percent despite concerns over the continued rise in the won. Record-breaking Mumbai lost 1.34 percent as investors took some profits amid concerns about the speed of the run-up.
Taiwanese share prices closed 0.31 percent higher as late buying by foreign investors reversed early falls driven by profit-taking, dealers said.
Heavyweight stocks, including technology bellwethers, led the gains on their positive industry prospects, they said.
The TAIEX was up 21.12 points at 6,781.94, off a low of 6,722.39 and a high of 6,802.94, on turnover of NT$121.60 billion (US$3.78 billion). Risers led decliners 463 to 424, with 159 stocks unchanged.
Japanese share prices closed at new multi-year highs, riding a wave of optimism about prospects for the economy and company profits, dealers said.
The Tokyo Stock Exchange's benchmark NIKKEI-225 index rose 74.04 points or 0.42 percent to 17,563.37, the highest closing level since July 10, 2000.
The broader TOPIX index of all first-section shares added 8.05 points or 0.45 percent to 1,783.72, levels last seen in November 1991.
Share prices moved in and out of negative territory over the course of the day with investors reluctant to make aggressive bets before the release of key monthly US jobs data.
South Korean share prices closed 0.38 percent higher, breaching resistance at 1,400 points with institutions and foreign investors focusing on financial stocks instead of forex-vulnerable exporters, dealers said.
The KOSPI index rose 5.36 points at 1,402.36, the best level for the day and off a low of 1,390.63.
Hong Kong share prices closed 0.37 percent higher as continued institutional interest in blue chips such as Hutchison Whampoa and China Mobile offset mild profit-taking, dealers said.
The Hang Seng Index closed up 60.65 points at 16,471.77, off a low of 16,328.63 and a high of 16,534.83.
The property sub-index gained 142.36 points or 0.71 percent at 20,293.10.
Chinese share prices closed 0.24 percent higher, extending gains on the back of continued strength in the yuan, with property developers and tourism stocks finding favor, dealers said.
The Shanghai A-share Index added 3.38 points to 1,407.88, and the Shenzhen A-share Index was up 1.94 points or 0.56 percent at 350.48.
The benchmark Shanghai Composite Index, which covers both A and B-shares, closed up 3.23 points or 0.24 percent at 1,342.97, its highest closing level since Nov 26, 2004.
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