The Nikkei 225 Average hit a four-week
closing high as chipmakers such as Advantest
climbed following strong gains in U.S. semiconductor stocks such as Intel. Financials rose on a sense of reassurance that the United States is taking steps to deal with the subprime mortgage loan crisis, while a weaker yen helped boost exporters.
South Korea's KOSPI gained 0.8 percent to a three-week closing high, as chipmakers and steel producers rallied on the prospect of price increases, while LG.Philips fell on fears of a panel oversupply.
Australian shares rose 1.4 percent to a four-week closing high, with U.S.-focused firms such as Westfield Group among the top gainers after upbeat economic data allayed concerns of a recession in the world's biggest economy.
Hong Kong stocks ended 0.7 percent higher, as strong U.S. jobs data eased worries about a recession, but Alibaba.com sank in heavy trade after a broker said shares in the mainland e-commerce firm were expensive. Hang Seng Bank also saw active trade following a price target upgrade, while HSBC Holdings rebounded a day after it slid with other global financial issues.
Singapore's Straits Times Index climbed over 1 percent higher early in the session, but slipped to 0.2 percent lower before the end of trade. Shares of Yangzijiang Shipbuilding rose 3 percent after UBS raised the firm's target price to S$2.80 from S$2.43 and maintained a "buy" rating on the stock.
China's Shanghai Composite Index fell slightly after the government signaled it was shifting to a "tight" monetary policy from a "prudent" policy for the first time in a decade. Steelmakers retreated following a two-day rally, after Baosteel group denied earlier reports that it was considering a bid of at least $200 billion for mining giant Rio Tinto. The report was a fabrication of the media and Baosteel didn't at present have the financial strength for such a bid, official local newspapers quoted Chairman Xu Lejiang as saying.