Most Asian shares rose Friday after Wall Street posted gains on the heels of an improving job market and higher corporate earnings as investors closely monitored developments at a quake-stricken nuclear power plant in Japan.
The Nikkei 225 in Tokyo was up 0.7 percent to 9,496.00 with automakers rising following recent losses. Japan is grappling with radiation leaks from a crippled nuclear plant and power shortages following the March 11 earthquake and tsunami that devastated its northeastern coast.
Nissan Motor Co., which lost nearly 5 percent Thursday after saying it may move some engine production to the U.S. because of earthquake damage to a Japanese plant, was up 1.2 percent. Toyota Motor Corp., the world's largest automaker, rose 0.8 percent after being pummeled in prior trading sessions.
Investors pushed up several construction-linked shares, expecting those companies to benefit once Japan begins rebuilding. Komatsu Ltd. rose 3.9 percent a day after announcing that production was resuming in quake-affected areas. Mitsubishi Heavy Industries Ltd. was up 1.7 percent.
Consumer electronics companies also clawed back recent losses with Sony Corp. up 2.8 percent, and Panasonic Corp. up 1.8 percent.
Analysts believe that a coordinated currency intervention earlier this month by the world's top seven industrialized nations aided Japan's exporters by keeping the yen stable.
"There's been a strong rebound in markets after a very savage sell-off after the disasters in Japan," said Tim Schroeders, who helps manage $1 billion at Pengana Capital Ltd. in Melbourne.
Markets were reassured by the central bank intervention that stabilized the yen, he said. The yen hit a record high against the dollar in the days following the quake.
"A level of confidence has been maintained in financial markets during an extremely volatile time," Schroeders said.
Still, Japan continued to grapple with an av
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