Asian shares take comfort from US data

Most Asian stock markets rose on Friday on data showing broad US economic strength, while the yen rebounded from overnight multi-year lows after a Japanese official expressed concern about the pace of its recent descent. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up about 0.2 per cent, though on track for a weekly loss of over 1 per cent. It was underpinned by record finishes by the Dow Jones industrial average .DJI and S&P 500 .SPX after a spate of upbeat US data contrasted with signs of spreading weakness in China and Europe. Japan's Nikkei stock average .N225 bucked the regional trend, dropping 0.8 per cent. The euro dropped about 0.4 per cent to 147.68 EURJPY= after it soared to a six-year high of 149.12 yen in the previous session. The dollar has gained more than 7 per cent. The euro edged up about 0.1 per cent against the greenback to $1.2555 EUR=. In commodities markets, US crude CLc1 extended gains from Thursday, adding about 0.6 per cent to $76.32. Spot gold XAU= was slightly lower on the day at $1,191.98 an ounce, but still on track for its third straight weekly gain, according to Reuters.