Asian stocks rose to their highest in a month Thursday as a rally in gold and oil lifted resource shares, while a surprisingly optimistic indicator for U.S. jobs raised hopes of a milder U.S. economy recession than previously feared.
The U.S. private sector added 8,000 jobs in March, according to a report on Wednesday by ADP Employer Services, confounding economist expectations and taking some of the sting off the Federal Reserve Chairman Ben Bernanke's warning that the U.S. economy may slip into recession, his first such concession.
Tokyo's Nikkei 225 Average rose 1.5 percent to a one-month high as financial firms extended gains, but market energy was limited by wariness ahead of U.S. jobs data and the start of big Japanese corporate earnings reports next week. Casual-clothing seller Fast Retailing rose 4 percent and Toshiba jumped 5.9 percent after the firm said it was in the race for four nuclear reactor orders in the United States, which other firms estimate to be worth a total of $14 billion.