Asian stocks rose on the final trading day of the week following positive U.S. data overnight, with focus on developments in Japan.
U.S. stocks jumped on Thursday with the Dow leading gains by over 1 percent following strong data releases. Third-quarter gross-domestic product (GDP) rose 3.5 percent, beating expectations, while a separate report showed that the underlying trend for first time weekly jobless claims is at its lowest level since 2000.
The Bank of Japan holds a one-day policy review later today. While no action is expected, investors will pay attention to the bank’s semi-annual outlook report, due around 3pm local time, for new long-term economic forecasts. Governor Kuroda is expected to hold a briefing 30 minutes later.