Asian markets ended mixed Friday as cautious investors looked to the outcome of the stress tests on U.S. banks in the coming week, but Japanese shares rose as exporters jumped on a weakened yen.
Trading volumes were modest as several regional stock exchanges were closed, and ahead of a string of holidays early next week in Tokyo.
The Nikkei 225 ended Friday's trading higher by 149.11 points, or 1.7% to end the week at 8,977.37
The gains in Tokyo came in spite of news that U.S. auto maker Chrysler had filed for bankruptcy, and amid the spread of the A/H1N1 virus after media reports highlighted a suspected case in Japan.
Exporters climbed sharply in Tokyo as the yen fell, with Canon jumping 6.1% and Nikon gaining 3.4%, while Toyota added 1.3%. Canon shares advanced after it raised its operating profit forecast for 2009.
Fujitsu soared 18.1%, also helped by the yen weakness and on a higher-than-expected profit forecast.
Shares of Japanese commodity trading houses also rose on hopes they may benefit from a Chinese economic recovery. Marubeni surged 9.3% and Mitsubishi Corp. climbed 6%.
Markets in Hong Kong, Shanghai, Singapore, South Korea and Taiwan took May Day off.
In currency markets, the yen continued its recent decline. The U.S. dollar was at 99.04 yen from 98.62 yen late in New York. The euro was at 131.63 yen from 130.48 yen ahead of the European Central Bank's policy meeting next week.
Trading in Macquarie Group stock was suspended in Sydney after the company said Thursday it was considering a capital-raising proposal.
A person familiar with the matter told Dow Jones Newswires that the financial-services group planned to raise 540 million Australian dollars ($394 million U.S.) via a share issue. Macquarie separately announced Friday that its net profit for the year ended March 31 dropped 52% because of charges linked to funds managed by the company.
Data from Japan Friday highlighted economic weakness there, with the March jobless rate coming in at 4.8%. Also, March core consumer price index fell 0.1% on year, marking the first negative reading in a year and a half and raising concerns the nation might have entered a long period of deflation.
Elsewhere:
New Zealand’s NZX 50 Index tailed off 20.67 points, or 0.8%, to 2,719.52
Australia’s S&P/ASX 200 slid 10.90 points, or 0.3% at 3,769.60
