Japanese equities traded higher on Friday for the first time in three sessions as official data indicated a rise in new unemployment claims in the US to an over 1.5-year high last week, reigniting hopes that the US Federal Reserve will not pursue an aggressive rise in interest rates in June.

The benchmark index Nikkei 225 closed 623.90 points, or 1.97%, higher at 32,265.17.

The leading index that measures the outlook of the Japanese economy in the short term weighed the highest since November 2022 thanks to a further recovery in the Japanese economy, led by a sharp increase in the number of foreign tourists. Based on data such as job offers and consumer sentiment, the leading index grew to 97.6 in April, from a downwardly revised 96.9 in March.

In corporate news, Ichigo Inc. will acquire shares of Ichigo Hotel REIT Investment for a maximum of 1 billion yen to further strengthen its commitment to Ichigo Hotel as its sponsor.

Toyota Motor relaunched its premium model, The Crown, in South Korea after a 50-year hiatus, Pulse News reported Wednesday.

Source : Bloomberg