The Nikkei was up 0.7%, the Kospi up fractionally at 0.1% and Taiwan, where officials just cut interest rates, was fractionally higher too, up 0.04% whereas the Shanghai Composite started the day down. Many viewed the U.S. data as signaling a recovery and one U.S, central banker added some umph by saying the next rise in interest rates might be sooner than later.
Prior to these results markets were figuring in the possibility of the U.S. heading back into recession. So the prospect for higher rates and some inflation bodes well for most Asian stock markets many believe. Like it or not, this is just another way of inflating your way out of trouble since a stronger dollar help Asian exporters. Weaker currencies should translate into dumping more goods on Americsn consumers, making much of the globe rejoice.
The Nikkei rose 1.7% for the week Friday.
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