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    Asia shares rise, led by Tokyo on economy hopes

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    Asian shares mostly rose on Friday, led by fresh gains in Tokyo on growing expectations for Japan's economic recovery on the back of its new government's economic measures.

    Tokyo's benchmark Nikkei index gained 0.67 percent or 100.88 points to 15,138.12, reversing early losses in afternoon trade "as a lot of players were eager to buy on dips", said Takero Inaizumi, strategist at Mizuho Securities.

    This week the index has surged 3.63 percent, or 530.58 points, to finish at its best closing level in more than five years.

    Japanese shares are likely to gain further next week on robust investor appetite as confidence grows in the government's ability to deliver economic growth, analysts said.

    "The market is literally bullish in a virtuous cycle, which tends to make players regard trading factors only from the positive aspect," said Takero Inaizumi, strategist at Mizuho Securities.

    "Profit-taking can emerge from time to time but that can be easily erased by those who are eager to buy on dips," Inaizumi said.

    Local media reported that Prime Minister Shinzo Abe would Friday unveil the next stage of his economic measures, dubbed "Abenomics", intending to turn around years of deflation in the world's third-largest economy.

    Exporters were mixed as Sony (Xetra: 853687 - news) fell 1.72 percent to 2,046 yen but Toyota rose 0.31 percent to 6,470 yen.

    Honda rose 0.11 percent to 4,180 yen after the Japanese automaker said it would return to Formula One in 2015 as an engine supplier to British team McLaren.

    Sydney rose 0.29 percent or 15.14 points to 5,180.8, while Shanghai jumped 1.38 percent, or 31.06 points, to 2,282.87.

    Hong Kong and Seoul markets were closed for public holidays.

    Oil was down in Asian trade, with New York's main contract, light sweet crude for delivery in June dropping 25 cents to $94.91 a barrel and Brent North Sea crude for July delivery shedding 27 cents to $103.51.

    Gold was at $1,377.95 at 0945 GMT compared with $1,374.10 late on Thursday.

    In other markets:

    -- Taipei fell 0.26 percent, or 21.86 points, to 8,368.19.

    Acer (Other OTC: ACEIF - news) rose 1.66 percent to Tw$24.55 while HTC fell 1.72 percent to Tw$285.0.

    -- Wellington fell 0.82 percent, or 38.19 points, to 4,597.84.

    Telecom Corp dropped 3.92 percent to NZ$2.45, Fletcher Building (NZSE: FBU.NZ - news) slid 2.76 percent to NZ$8.44 and Mainfreight remained steady on NZ$10.20.

    -- Manila shed 0.43 percent, or 31.07 points, to 7,279.87.

    Metro Pacific Investments dropped 0.49 percent to 6.09 pesos while Alliance Global Group fell 2.26 percent to 26 pesos.

    -- Singapore dropped 0.09 percent, or 2.98 points, to 3,449.30.

    Singapore Airlines (SES: C6U.SI - news) dropped 4.54 percent to Sg$10.93 and Oversea-Chinese Banking Corporation shed 0.18 percent to Sg$11.17.

    -- Dow Jones Newswires contributed to this article --