Asian shares rose on Friday as investors embraced a global rally before crucial US jobs data while bonds found some much needed relief after a top Federal Reserve official cooled rate hike fears and dragged the dollar lower.

In Hong Kong, the benchmark Hang Seng Index opened up 302 points, or 1.2 percent, at 25,515 and gained more ground to be up 511 points in early trading.

The tech index opened 65 points, or 1.46 percent, higher at 4,533 while the China Enterprises Index rose 96 points, or 1.15 percent, to 8,481.

Across the border, the Shanghai Composite Index inched up 13 points, or 0.34 percent, to 3,955.

The Shenzhen Component Index rose 100 points, or 0.74 percent, to 13,725 while the ChiNext was up 32 points, or 0.97 percent, at 3,344.

In Tokyo, the Nikkei opened 284 points, or 0.44 percent, higher at 64,498 and gained more ground to be 415 points up at one stage before lunch.

In Seoul, the Kospi was 62 points higher before noon after opening up almost 75 points, or 1.14 percent, at 6,654, led by gains in heavyweight chipmakers.

The gains came after the dollar's retreat turbocharged a rally in the yen, which has gained 2.6 percent ⁠this week to trade at 155.7 a dollar, putting it within striking distance of the 155.2 level reached after joint intervention by Tokyo and Washington in late July.

Federal Reserve governor Christopher Waller said recent data suggested some signs of disinflation and that, if upcoming reports reinforced that trend, he would favour holding rates steady at this month's policy meeting.

"Waller is pushing back against the thrust of the argument made by Federal Reserve chairman Kevin Warsh last week that there is little ⁠evidence that underlying inflation has moved lower," said analysts at JPMorgan in a note.

"We believe that Warsh will deliver ⁠a hike if he advocates for it. Absent ⁠his advocacy, governor Waller’s speech reinforces our view that the bar for data to sway the data-dependent majority to hike this month remains elevated." (Reuters & Xinhua)


Edited by Aaron Tam