TOKYO stocks have surged 3.29 per cent on the back of a firmer US dollar, upbeat earnings results, and a strong lead from Wall Street.
The benchmark Nikkei 225 index on Friday closed up 460.39 points at 14,466.16, while the Topix index of all first-section shares gained 2.82 per cent, or 32.78 points, to 1,196.17.
Investor sentiment brightened as the US dollar inched up against the yen as it makes Japanese exporters more competitive overseas and tends to lift their shares.
The US currency bought to Y99.62 in afternoon trade, compared with Y99.52 late in New York and Y98.63 in Tokyo earlier on Thursday.
Buying sentiment was also supported after a rally on Wall Street fuelled by strong manufacturing data from China, Europe and the United States saw the S&P 500 end 1.25 per cent up at an all-time closing high. The Dow added 0.83 per cent.
"The Nikkei will likely continue to advance as uncertainties surrounding global economies have waned and expectations for better earnings for Japanese exporters mount on the back of a stronger dollar," said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.
Big-hitters SoftBank and Sharp also helped drive the index higher after impressing with their first-quarter earnings released earlier this week.
SoftBank's net profit more than doubled for the three months to June, while Sharp managed to reduce its loss in the same period thanks to the weaker yen and cost-cutting.
SoftBank jumped 3.44 per cent to Y6,900 and Sharp leapt 3.40 per cent to Y425.
Sony, which swung to a net profit in April-June, rose 0.90 per cent to Y2,123 after giving up part of its earlier gains on profit-taking.
Toyota, which announced after markets closed a near doubling in quarterly profit and said it was on track to produce more than 10 million vehicles this year, soared 3.37 per cent to Y6,430.
Currencies and the US economic outlook will continue to drive the market, analysts said.
But Naoki Fujiwara, fund manager at Shinkin Asset Management, said the impact of Japanese earnings on the broader market may be limited as strong results from some firms were offset by lacklustre figures among others.
"My impression on the overall earnings is neutral as the results are mixed," he told Dow Jones Newswires.
"Currencies and US economic data will likely continue to act as catalysts in the absence of other drivers near-term," he added.
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