Asian shares rally after string of upbeat data

HONG KONG: Asian markets climbed for a second straight session on Friday following another record close on Wall Street and a string of positive economic data from China, Europe and the United States.

Buying sentiment was also helped by much welcome earnings results, while investor confidence helped the dollar push higher.

Tokyo jumped 1.82 percent, Hong Kong added 0.66 percent, Sydney rose 0.85 percent and Seoul was up 0.57 percent, while Shanghai gained 0.60 percent.

Regional shares rallied on Thursday as traders welcomed the prospect the US Federal Reserve will keep its stimulus in place as well as strong US growth data and better-than expected Chinese manufacturing.

And they were given another boost on Friday after a survey showed eurozone manufacturing activity last month was growing for the first time since July 2011.

Soon afterwards, the US Institute for Supply Management index of activity had also surged to its highest level since July two years ago, well above market estimates.

The news was a shot in the arm for Wall Street, where the S&P 500 surged 1.25 percent to a record close, while the Dow climbed 0.83 percent and the Nasdaq rallied 1.36 percent.

It also fuelled buying on currency markets, with the dollar jumping to 99.52 yen in New York on Thursday from 98.63 earlier in Tokyo.

On Friday in Tokyo forex trade the greenback climbed further, fetching 99.60 yen. The euro bought $1.3205 and 131.35 yen against $1.3208 and 131.45 yen.