Tokyo jumped 1.9 per cent and Hong Kong was up 0.5 per cent, while Shanghai was flat.
The Nikkei rise came despite struggling Japanese auto giant Nissan issuing a stark profit warning on Thursday, forecasting a huge loss of up to US$5.3 billion in the 2024 to 25 financial year.
The markets see that the company “is moving ahead toward turnaround”, said Bloomberg Intelligence analyst Tatsuo Yoshida, as Nissan shares climbed more than 1.6 per cent on Friday.
“Booking significant impairment losses and restructuring charges is a necessary step toward Nissan Motor’s turnaround.”
Japanese media reported on Thursday that a second round of trade talks in Washington was set for May 1, which will be closely watched as a barometer for efforts by other countries seeking tariff relief.
Seoul jumped 1 per cent after US Treasury Secretary Scott Bessent said a trade “understanding” between South Korea and the United States could be reached by next week.
Taipei, Wellington, Singapore, Manila, Bangkok and Jakarta also climbed.
Markets were also responding to strong earnings from Google parent Alphabet, which reported on Thursday a profit of US$34.5 billion in the recently ended quarter.
Overall revenue at Alphabet grew 12 per cent to US$90.2 billion compared with the same period a year earlier, while revenue for its cloud unit grew 28 per cent to US$12.3 billion, according to the tech giant.
MUFG’s Chan also pointed to the Federal Reserve possibly cutting interest rates sooner than expected.
Fed Governor Christopher Waller said during an interview with Bloomberg Television that he would support interest rate cuts if harsh tariffs hurt the jobs market.
“In terms of the latest Fed speak, Fed’s Waller has said he would support rate cuts should there be a significant deterioration in the labour market,” Chan said.
