BANGKOK ? Asian stock markets rose Friday as strong earnings and positive jobs data out of the U.S. added to hopes that the economic recovery in the world's largest economy is for real.
Benchmark oil lingered near $100 per barrel while the dollar fell against the euro and the yen.
On the last trading day before Chinese New Year holidays begin Monday, Hong Kong's Hang Seng added 0.3 percent to 19,992.55. Japan's Nikkei 225 index rose 1.4 percent to 8,761.30 and South Korea's Kospi gained 1.2 percent to 1,937.63.
Benchmarks in Australia, Singapore, India and mainland China were also higher.
Strong corporate earnings reports in the U.S. boosted investor risk tolerance. IBM Corp.'s fourth-quarter earnings beat Wall Street expectations, while Bank of America and Morgan Stanley both reported results that were better than analysts were expecting.
That helped lift shares in Japan's major banks, including Mitsubishi UFJ Financial Group, which jumped 5.1 percent. Mizuho Financial Group was up 5.5 percent and Nomura Holdings surged 4.9 percent.
Another positive sign was data that showed the U.S. job market is strengthening. The number of people seeking unemployment benefits fell last week to 352,000, the fewest since April 2008.
"The U.S. has better job figures and China's central bank pumped money into the banking system to provide money to cash-starved enterprises so they can pay new year bonuses. I think after the Chinese New Year, be prepared for a correction," said Francis Lun, managing director of Lyncean Holdings in Hong Kong.
Some Hong Kong-listed banks and insurers fell as investors sold shares to book profits ahead of the Lunar New Year, analysts said. The Industrial & Commercial Bank of China fell 2.2 percent. Ping An Insurance shed 1.4 percent.
Resources stocks advanced following strong gains in metals prices overnight.
Mining giant Rio Tinto Ltd. rose 0.8 percent. Fortescue Metals Group, Australia's third-biggest iron ore producer, gained 1.2 percent.
Meanwhile, France and Spain held successful bond auctions, their first since Standard & Poor's downgraded their credit ratings last week. The result was a sign that politicians and central bankers have at least temporarily stemmed the spread of Europe's debt crisis.
Analysts warn, however, that a looming recession could hinder efforts to slash deficits and the results are uncertain from a closely watched debt-restructuring negotiations taking place between Athens and private creditors. Failure to seal a deal would likely result in a financially disastrous default by Greece.
"For the moment, the market expects a deal to be made while downside risk still exists and any disappointment could end the week of rallies," Credit Agricole CIB in Hong Kong said in an email.
The Dow Jones industrial average gained 0.4 percent to close at 12,623.98 on Thursday. The Standard & Poor's 500 index added 0.5 percent to close at 1,314.50. Both averages are at their highest since July. The Nasdaq added 0.7 percent to close at 2,788.33.
Benchmark crude for February delivery was up 11 cents at $100.50 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 20 cents to finish at $100.39 per barrel in New York on Thursday.
In currency trading, the euro rose to $1.2962 from $1.2936 late Thursday in New York. The dollar fell to 77.09 yen from 77.17 yen.
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