HONG KONG: Asian shares were generally higher Friday, tracking gains on Wall Street on the back of positive US employment figures and better German business confidence.
In Tokyo the Nikkei 225 closed up 0.54 percent, or 51.81 points, at 9,647.38, and the Shanghai Composite Index, which covers both A and B shares, was 0.44 percent, or 10.72 points, higher at 2,420.27 in afternoon trade.
Property stocks led the Chinese gains on hopes for more monetary easing measures from Beijing to boost the domestic economy, dealers said.
"We expect blue chips to lead the broader market higher in the coming weeks amid growing expectations of more policy easing," Wang Weijun, an analyst at Zheshang Securities, told Dow Jones Newswires.
But Hong Kong's Hang Seng index was flat, edging down 0.03 percent or 6.62 points to 21,374.37 in the afternoon.
In Australia, where former foreign minister Kevin Rudd said he would challenge Prime Minister Julia Gillard for the Labor party leadership, Sydney's benchmark S&P/ASX 200 gained 0.48 percent, or 20.6 points, to a three-month closing high of 4,306.8.
The market moves came after positive US jobs data and a German business confidence index reached a seven-month high Thursday. Greece also approved a law on a historic 107-billion-euro debt writedown.
But European banks issued mixed earnings reports and the European Commission forecast a mild recession for the eurozone this year.
Overnight the Dow Jones Industrial Average closed up 46.02 points (0.36 percent) at 12,984.69, on solid gains from Procter & Gamble and blue-chip stalwart IBM.
The S&P 500 gained 0.43 percent to 1,363.46, and the tech-rich Nasdaq Composite added 0.81 percent to 2,956.98.
Nonetheless analysts in Asia said investors were concerned that rising oil prices could act as a brake on growth, just as a global economic recovery seems possible.
Crude prices reached a nine-month high Thursday, pushed up by tensions over Iran.
In Asian trade Friday, New York's main contract, West Texas Intermediate light sweet crude for April delivery, rose 72 cents to $108.55, while Brent North Sea crude for April gained 37 cents to $123.99 in the afternoon.
"Rising oil prices are not good for energy-hungry economies," said Justin Harper, strategist at IG Markets in Singapore in a note.
The euro bought $1.3362 and 107.42 yen, mixed from $1.3369 and 106.94 yen in New York late Thursday.
The dollar traded at 80.39 yen compared with 79.98.
Gold was at $1,776.70 an ounce at 0600 GMT, compared with $1,778.80 on Thursday.
In other markets:
-- Seoul was 0.6 percent, or 12.09 points, higher at 2,019.89.
-- Wellington edged down 3.39 points or 0.1 percent to 3,319.76
Air New Zealand fell 3.37 percent to NZ$0.86 after announcing a 61 percent slump in half-year profits, while Telecom was up 0.47 percent at NZ$2.16 after its adjusted interim profit rose 52 percent.
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