Japanese markets ended sharply higher as investors sought Mitsubishi UFJ Financial Group, Softbank Inc. and other blue chips that were heavily sold earlier in the week, while a possible takeover bid for Qantas Airways Ltd. lifted shares in Sydney.
In Japan, the Nikkei 225 Index rose 180.09 points, or 1.14 percent, to finish at 15,914.23 while the Hong Kong's Hang Seng Index rose 1.3 percent to close at 19,250.79.
Among other gainers were Sumitomo Mitsui Financial Group Inc., which rose 1.71 percent and Mitsubishi Corp., which added 1.71 percent.
Meanwhile, electronics maker NEC Corp. slumped 5.59 percent on poor earning reports the day before.
Elsewhere:
BANGKOK: Thai shares edged 0.7 percent higher to 729.43 points as bargain-hunting in banks and energy blue chips in partial correction for recent weakness outweighed profit-taking in volatile medium- and small-capitalization stocks.
JAKARTA: Indonesia shares advanced 1.4 percent, with gains in telecommunication, cement and plantation blue chips driving the main index to a fresh record high at 1,705.44.
KUALA LUMPUR: Malaysian shares rose 0.7 percent to 1,043.81 points amid heavy trading and foreign buying.
MANILA: Philippine shares rose to a 9-year high on heavy trading, rebounding after a correction in past sessions. The benchmark 30-company Philippine Stock Exchange index gained 29.82 points, or 1.1 percent, to finish at 2,855.23.
MUMBAI: Indian shares ended at a record high, led by state-run Oil & Natural Gas and telecom major Bharti Airtel as market players remained confident the rally will continue in the short run. The Bombay Stock Exchange's benchmark 30-stock Sensex rose 89.76 points, or 0.7 percent, to 13,706.53.
SEOUL: South Korean shares advanced, led by banks and semiconductor shares as foreign buying in the futures market spurred robust program buying. The Korea Composite Stock Price Index, or Kospi, rose 16.64 points, or 1.2 percent, to 1,422.54, hitting the highest mark in nearly six months after it ended at 1,445.20, on May 12.
SHANGHAI/SHENZHEN: Chinese shares nudged upward on expectation of new infrastructure spending, while banking stocks fell on profit taking. The Shanghai Composite Index rose 0.2 percent to 2,041.35, smaller than other recent gains but still setting a five-year high for the sixth straight session. That was the highest closing level since July 27, 2001 when it ended at 2,065.72. The Shenzhen Composite Index rose 1 percent to 463.54.
SINGAPORE: Singapore shares powered to a closing high, as chip manufacturers performed well on optimism over a strong cyclical upswing in the fourth quarter. The Straits Times Index rose 27.1 points, or 1 percent, to 2830.02, rolling past its Nov. 17 record-high close of 2,817.3.
TAIPEI: Taiwan shares rose slightly on optimism over demand for personal computers. The Weighted Price Index of the Taiwan Stock Exchange gained 39.08 points, or 0.5 percent, to close at 7,348.77.
WELLINGTON: New Zealand stocks inched down as investors responded to mixed corporate news and the market continued its consolidation phase. The benchmark NZX-50 index slipped 3.5 points, or 0.1 percent, to 3,817.60.
SYDNEY: Australian shares were lifted by news of an audacious takeover attempt on Qantas by Macquarie Bank and Texas Pacific and bullish offshore leads. The benchmark S&P/ASX 200 index hit a five-day high of 5,448.9 before closing up 1.6 percent at 5,445.7.
With files from wire services
