Most Asian stocks rose, with Japan's Topix Index closing at a 4 1/2 year high as the yen weakened beyond 101 per dollar, boosting the earnings outlook for exporters.

Nikkei 225 14,607.54 +416.06 +2.93%

Hang Seng 23,287.63 +76.15 +0.33%

S&P/ASX 200 5,206.09 +7.71 +0.15%

Shanghai Composite 2,246.83 +13.86 +0.62%

Nikon Corp., a camera manufacturer that gets 85 percent of sales outside Japan, soared 15 percent as its earnings forecast topped analyst estimates.

Sharp Corp. jumped 6.4 percent, bringing this week's advance to 34 percent, as the Asahi newspaper reported the Japanese maker of TVs will cut 5,000 jobs.

Mighty River Power Ltd. jumped 4.8 percent on its trading debut after the New Zealand government sold a stake in the nation's biggest initial public offering.