Despite another jump in US unemployment, on Friday the Dow Jones Industrial Average rose 0.5 percent to close above the key 8,000 level for the first time since February 9 and giving regional bourses an extra lift, analysts said.

Hong Kong surged 3.11 percent on optimism over the G20 plan to provide US$1.1 trillion in new money while the city’s Chief Executive Donald Tsang said he was open to further stimulus efforts to boost the economy.

Tokyo rose 1.24 percent as investors were cheered by remarks from Finance Minister Kaoru Yosano that he was drawing up fresh stimulus spending worth at least 10 trillion yen ($100 billion) to revive the economy.

“The Japanese market is now at a turning point,” Investrust CEO Hiroyuki Fukunaga told Dow Jones Newswires.

“If the Nikkei can hold firm after the current buying to exit sell positions ends, that would be a signal for further upside,” he said.

Source: AFP