The Asian stock markets rose broadly on Friday after the European Central Bank upped economic growth forecasts for the euro zone and laid out its plans for bond purchases to combat deflation. ECB President Mario Draghi on Thursday said the ECB would purchase 60 billion euros of public and private sector assets each and every month until September 2016, or beyond if necessary to put the eurozone back on track for sustained growth. The bond-buying stimulus program would begin on March 9.
Investors also awaited U.S. jobs data due later in the global day for clues on when the Federal Reserve will start raising interest rates. Economists expect the report to show an increase of about 230,000 jobs in February, down from 257,000 jobs in January, while the headline unemployment rate is expected to drop to 5.6 percent, matching a more than six-year low.
Chinese shares bucked the regional uptrend as worries over growth and tighter liquidity kept investors on the sidelines. The benchmark Shanghai Composite index slipped 0.22 percent to close at 3,241.19, while Hong Kong's Hang Seng index edged down 0.12 percent to finish at 24,164. China will pursue an expansionary fiscal policy this year to withstand the downward pressure on the economy, Chinese Finance Minister Lou Jiwei told the legislature today.
Japanese shares hit a fresh 15--year high, buoyed by encouraging comments from the European Central Bank on the outlook for eurozone growth and inflation. The benchmark Nikkei average jumped 1.117 percent to 18,971, its highest level since April 2000. The broader Topix index gained 1.12 percent to close at 1,540.84.
Among the prominent gainers, Seven & I Holdings, Yamaha Corp, Sumco, Olympus and Ajniomoto climbed 4-7 percent. Sumitomo Dainippon Pharma soared 12.5 percent on a brokerage upgrade. Exporter shares closed mostly higher, with Nissan Motor, Toyota, Nikon, Panasonic, Canon and Honda Motor rising 1-2 percent, as the yen held steady against the dollar.
Shares of struggling electronics firm Sharp Corp rallied 1.7 percent on a report that it has asked a corporate turnaround fund to help with the company's restructuring. Mitsubishi UFJ Financial Group, Japan's largest bank, climbed 2.8 percent, Sumitomo Mitsui Financial rallied 2.4 percent and Mizuho Financial advanced 1.4 percent.
Recruit Holdings rose 2.3 percent after it agreed to buy German online restaurant reservation service provider Quandoo GmbH for 198.6 million euros ($219 million). FamilyMart fell 2.2 percent, while UNY Group Holdings soared 10.7 percent on reports that they are in discussions to consider various tie-up options, including mergers, with other firms.
Australian shares fell marginally as lower commodity prices weighed on investors' risk appetite. The benchmark S&P/ASX 200 index slipped 0.09 percent to finish at 5,898.9. BHP Billiton dropped 1.6 percent, Rio Tinto shed 1.2 percent and Fortescue Metals Group slumped 6.1 percent after iron ore prices crashed below the US$60 a ton threshold overnight to hit a near six-year low amid skepticism about the strength of Chinese demand.
Junior miner Atlas Iron and BC Iron lost 5-6 percent. Regis Resources shares plummeted 26.7 percent after the gold miner announced its output would be at lower end of expectations this year. Newcrest Mining dropped 3.4 percent. The big four banks fell between 0.1 percent and 0.4 percent, while investment bank Macquarie Group rose 1.2 percent and insurer QBE rallied 2.5 percent.
Oil and gas producer Oil Search slid 2.5 percent after it failed to find a gas reservoir in exploration drilling at its Hides Deep well. Rivals Woodside Petroleum Santos and Origin Energy closed down between 0.1 percent and 0.2 percent. Oil prices fell in volatile trade Thursday, as the dollar's strength and persisting worries about a global oversupply offset concerns about tensions in Iraq and Libya.
On the economic front, Australia's construction sector shrank for the fourth straight month in February as an interest rate cut failed to create new spending and jobs, according to a survey by the Australian Indian Group. Its Performance of Construction Index fell two points to 43.9 from 45.9 in January.
Seoul shares hit a five-month high, with technology and auto stocks pacing the gainers, aided by sustained buying by foreign funds. Foreign investors extended their buying streak to a 10th consecutive session with purchase of shares worth a net 287 billion won, preliminary data showed.
The benchmark Kospi average climbed 0.73 percent to 2,012.94. Hyundai Motor jumped 3.3 percent, its affiliate Kia Motors rallied 2.4 percent, chipmaker SK Hynix rose 1.5 percent and Samsung Electronics added 1.4 percent.
New Zealand shares hit another record high as investors resumed their hunt for high dividend yielding stocks. The benchmark NZX-50 index rose 0.79 percent to close at 5,903.06. Genesis Energy climbed 2.5 percent, Spark New Zealand advanced 1.5 percent and Contact Energy gained 1.2 percent. Warehouse Group shares tumbled 4.1 percent after the country's largest listed retailer posted weaker first-half earnings and cut its forecasts for annual profit and dividends.
Elsewhere, the benchmark indexes in Indonesia, Malaysia, Singapore and Taiwan were up between 0.1 percent and 0.7 percent, while the Indian markets were closed for a public holiday.
Malaysia's exports and imports decreased unexpectedly in January, preliminary figures from the Department of Statistics showed. While exports fell an annual 0.6 percent, defying expectations for a 2.5 percent rise, imports declined 5.3 percent from a year earlier.
On Wall Street, stocks rose modestly overnight, as two sizable deals in the healthcare industry, strong earnings results from retail chains Krogers and Costco and new stimulus efforts by the European Central Bank helped investors shrug off weak factory orders and jobless claims data. The Dow rose 0.2 percent, the tech-heavy Nasdaq gained 0.3 percent and the S&P 500 added 0.1 percent.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.