Asian markets lifted by US data

HONG KONG: A string of upbeat data from the United States and a rally on Wall Street boosted Asian markets on Friday, while growing confidence in the global outlook saw dealers sell the safe-haven yen.

The latest statistics from Washington follow data out of Asia earlier Thursday that showed manufacturing slowly picking up, with China seeming to have come to the end of its recent malaise.

Tokyo jumped 1.31 percent by the break, Hong Kong climbed 1.23 percent, Sydney gained 0.17 percent, and Seoul rose 1.06 percent, but Shanghai was off 0.10 percent after surging on Thursday.

Wall Street's three main indexes saw healthy gains on Thursday, their second day back after a two-day closure caused by superstorm Sandy, thanks to a bright batch of indicators that suggest the economy is gaining strength.

The US Conference Board index of consumer confidence for October rose to a better-than-forecast 72.2 in October, from a revised 68.4 in September, pointing to a pick-up in the crucial manufacturing sector.

Also, the Labor Department said weekly jobless claims continued their decline, falling a modest 9,000 to 363,000 last week -- below the four-week moving trend of 367,250.

That provided hopes for closely-watched non-farm payrolls results due out of Washington later Friday, with expectations for another rise in job creation.

And the auto industry said sales continued to climb in October, even as Hurricane Sandy curbed sales on the heavily populated northeastern coast in the last three days of the month.

Meanwhile the Institute for Supply Management said its purchasing managers index (PMI) for the industrial sector rose to 51.7 from September's 51.5 reading.