Summary Global markets have rallied this week, after a tumultuous period caused by the Fed's decision.
HONG KONG (AFP) - Asian stock markets saw broad gains on Friday, making a strong finish to the week as they took their lead from Wall Street, which shrugged off lacklustre US economic data.
Global markets have rallied this week, after a tumultuous period caused by the US Federal Reserve s decision to reduce its stimulus programme for a second time in two months.
Sydney closed up 0.91 percent, Seoul s benchmark index gained 0.69 percent, and Hong Kong was 0.40 percent higher at mid-session while Shanghai was trading up 0.62 percent.
Tokyo stocks bucked the trend, closing down 1.53 percent after giving up early gains as the yen strengthened on the back of the disappointing US retail sales and jobless figures which raised more questions about the health of the world s biggest economy.
But Shanghai shares were higher in afternoon trade after data showed China s inflation was unchanged in January from a month earlier, despite analysts warning the figure suggested weak growth prospects for the world s second-largest economy.
The benchmark Shanghai Composite Index rose 13.05 points, to 2,111.45. The Shenzhen Composite Index, which tracks stocks on China s second exchange, gained 1.06 percent, or 11.89 points, to 1,131.82.
China s inflation rate was steady at 2.5 percent year-on-year in January, the government said Friday.
"The figure suggested that inflationary pressure is small, so the market is quite optimistic," Zheshang Securities analyst Zhang Yanbing told AFP.
US stocks defied disappointing retail sales and jobless claims data on Thursday to make modest gains, with the Dow Jones Industrial Average finishing up 63.65 points or 0.40 percent at 16,027.59.
The broad-based S&P 500 tacked on 10.57 points (0.58 percent) to 1,829.83, while the tech-rich Nasdaq Composite Index jumped 39.38 points (0.94 percent) to 4,240.67.
US retail sales unexpectedly fell 0.4 percent in January in the second straight monthly decline, according to the Commerce Department.
The Labor Department reported weekly first-time claims for unemployment insurance rose to 339,000 from 331,000 the previous week, slightly more than expected but in line with the longer-term trend.
Michael James, managing director of equity trading at Wedbush Securities, said investors saw the data as "primarily weather-related" after a streak of severe winter weather has depressed economic activity.
In currencies, in Tokyo afternoon trade the greenback fetched 101.76 yen, weakening from 102.15 yen in New York Thursday afternoon.
The euro bought $1.3677 and 139.21 yen, from $1.3678 and 139.74 yen.
Oil prices were mixed in Asia as investors saw the figures as pointing towards weakening demand in the world s top oil consumer.
New York s main contract, West Texas Intermediate (WTI) for March delivery, eased 15 cents to $100.20 in afternoon Asian trade.
Europe s benchmark contract Brent North Sea crude for April was down eight cents at $108.44 on its first day of trading.
Gold was trading at $1,305.50 an ounce at 0600 GMT, compared with $1,290.45 late Thursday -- rising above the $1,300 mark for the first time since November in another response to the uninspiring US data.
In other markets:
-- Taipei rose 45.98 points, or 0.54 percent, to 8,513.68.
Taiwan Semiconductor Manufacturing Co gained 2.38 percent to Tw$107.5 while HTC fell 0.78 percent to Tw$128.0.
-- Wellington added 14.87 points or 0.31 percent at 4,888.40.
Fletcher Building gained 0.32 percent to NZ$9.48, Telecom Corp. was up 1.65 percent to NZ$2.46 and Air New Zealand fell 0.29 percent to NZ$1.695.
