Asian stocks advance on positive economic news (AP) (10-09-2010)

MUMBAI, India (AP) -- Most Asian markets gained Friday after news from Japan on its economy growth as well as better U.S. jobs and trade figures.

Japan's Nikkei 225 stock average was up 117.90 points, or 1.3 percent, at 9,216.29 after slipping back from the morning's 2 percent rise. Investors welcomed figures showing that improved capital spending helped Japan's economy grow 0.4 percent in the second quarter from the previous quarter, compared with an initial estimate of 0.1 percent.

The yen slipped against the dollar, helping Japanese exporters, who led gains in Tokyo. Canon Inc. was up 5.2 percent, Toyota Motor Corp. rose 0.9 percent and Sony Corp. gained 1.3 percent.

South Korea's Kospi Composite rose 1.1 percent to 1,803.48 and Taiwan's benchmark gained 0.7 percent to 7,888.11. Markets in Thailand and New Zealand also rose.

The Shanghai Composite Index slipped 0.1 percent to 2,652.19 while Hong Kong's Hang Seng Index fell less than 0.1 percent to 21,159.30 on unexpectedly weak foreign retailer orders.

Source: AP