NIKKEI 225

A rally in Asian shares continued on Thursday as encouraging signs about the health of U.S. banks and the state of the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.

Japanese stocks struck a four-month closing high on Friday and higher-yielding currencies held gains as investors favored riskier assets, with improvements in Chinese manufacturing and South Korean exports adding to evidence of a global economy on the mend.

Asian stocks fell about 2 percent on Monday as the outbreak of swine flu in North America hurt shares of airlines while prompting some market players to trim risky positions, hitting currencies such as the Australian dollar.

Earnings disappointments drove Asian stocks lower on Friday, helping to snap the region's longest streak of weekly gains in 18 months, while gold shot to a three-week high above $910 an ounce after China revealed it now has the world's fifth-largest stock pile.

Asian stocks edged up on Friday, as financials gained on hopes that credit fears have eased, although the yen drifted higher with investors cautious until more details emerge on the U.S. Treasury's bank stress tests.

Stocks staged a comeback across most of Asia on Thursday as a larger-than-expected profit from Korea's Hyundai fed optimism that the auto sector could be nearing a turnaround and tech shares found strength on the back of buoyant earnings from Apple .

Japanese shares fell on Thursday as worries about the health of the global financial sector flared again after a larger-than-expected loss from Morgan Stanley and a report that top Japanese broker Nomura had also fallen deeply into the red.

Stocks in Japan and South Korea rose on Wednesday but most Asian markets slipped as caution spread, pushing up the U.S. dollar and yen, before official results of U.S. bank stress tests are released on May 4.

Asian stocks edged up on Wednesday supported by the top U.S. Treasury official saying most banks have adequate capital, but caution was likely to reign until official results of stress tests were released on May 4.

Honda Motor Co's operating profit for the last financial year will likely beat the company's estimate thanks to a weaker yen and better-than-expected sales in China, a newspaper reported on Wednesday.

Japan's Toshiba Corp plans to raise about 500 billion yen ($5 billion) in capital as early as June to prop up its finances, battered by loss-making chip operations and tax credit costs, a newspaper said.

Asian stocks rose on Friday after results from JPMorgan and Google kept shares on track for a sixth week of gains, while the euro fell to a one-month low on uncertainty over what non-standard policy action the European Central Bank will enact.

Asian stocks rose on Friday and the yen slipped, after upbeat results from JPMorgan and Google kept a revival of risk taking alive, with Asian shares outside Japan on track for a sixth week of gains.

Nippon Steel Corp and other steelmakers have agreed with Toyota Motor Corp to cut steel prices by more than 10 percent this business year, a newspaper said, a smaller-than-expected price cut.

Japan's Santen Pharmaceutical Co agreed to license to Merck & Co Inc its glaucoma and ocular hypertension drug tafluprost, in a move to help drive global sales of one of Santen's key products.

General Motors stock fell sharply in Frankfurt on Tuesday on renewed bankruptcy fears, weighing on autos stocks across the region, as peer Chrysler pinned its hopes on a tie-up with Fiat .

Asian shares rose to a six-month high on Tuesday after Goldman Sachs' stronger-than-expected profit signaled the worst could be behind for U.S. banks, but plenty of concerns about the global economy still remain.

Asian shares rose to a six-month high on Tuesday after Goldman Sachs' stronger-than-expected profit signaled the worst could be behind for U.S. banks, emboldening investors to chase after riskier assets.

The value of Japanese investment trust funds rose nearly 3 percent in March, up for the second straight month, amid a recovery in global share prices and a weaker yen, a fund industry body said on Monday.

U.S. bank Wells Fargo forecast a record profit, South Korea steered clear of recession, and Chinese export data beat expectations, all offering hope that the worst of the financial crisis had passed.

Asian shares rose on Friday, with South Korean stocks hitting a 6-month high after the country averted recession in the first quarter, as a Wall Street rally boosted risk demand around the region and dented the yen.