Nikkei 2% higher
Japan's benchmark index ended at its highest level since April 4 after data showed that companies raised their capital expenditure by an annual 7.4 percent in the January-March period. May marked the Nikkei's first monthly gain in five months.
A weaker currency also underpinned gains as the yen breached the 102 handle against the dollar.
Dai-Ichi Life Insurance lost 5 percent on news that it is considering buying U.S. insurer Protective Live for $4.87 billion.
Toyota Motor added 1 percent after the Nikkei business daily reported that that it will invest around $4.8 billion in domestic facilities this fiscal year.
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ASX up 0.5%
Australian shares bounced off a one-week low of 5,482 points in early trade on some upbeat data. Company gross operating profits beat estimates to jump 3 percent in the first quarter from the previous quarter.
Continued weakness in miners capped larger gains on the benchmark S&P ASX 200. BHP Billiton fell more than 1 percent after iron ore prices declined 4 percent to sit at $91.80 a tonne.
Karoon Gas surged 42 percent after Origin Energy said it would buy the company's gas assets for up to $800 million.
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