Asian markets made solid gains Friday, ending the week firmly in positive territory as investors bet on a positive reaction to Fed Chairman Ben Bernanke's speech on monetary policy and housing in Jackson Hole, Wyo. at 11 am Singapore time.
Financial markets are expecting the central bank to cut interest rates by at least a quarter percentage point at its Sept. 18 meeting.
Technology stocks were in the lead for a second day running after Dell , the world's second-largest personal computer maker, beat expectations with a 46% rise in its quarterly profits. Japanese electronics components maker TDK, Sony, South Korea's Samsung Electronics and flat screen maker LG.Philips LCD all
Tokyo's Nikkei 225 Average closed 2.6% higher on last minute buying spurred by news that Bush would outline reforms aimed at helping homeowners with subprime mortgages avoid default. Merger hopes lifted paper stocks after the news report that
Rengo would integrate its cardboard production with that of Japan's second-biggest paper maker, Nippon Paper Group.