Asian stocks advanced on Friday, in contrast to the previous session's sell-off, as Apple's iPhone 5 debut bolstered technology and telecom stocks.

The benchmark Nikkei 225 index closed up 23 points or 0.25% at 9,110 in Tokyo and the Hang Seng advanced 144 points at 20,734. South Korea's Kospi climbed 0.5%.

Asian markets suffered steep losses on Thursday after economic data in Japan and China disappointed investors. While markets remained mindful of slowing global growth, focus turned to the widely anticipated launch of iPhone 5.

Shares of TV giant Sharp, which also supplies components to Apple, rallied 5% after press reports said it was in talks US chip making giant Intel about a potential capital alliance. South Korea's Samsung made headway.

In Hong Kong, SmarTone Telecommunications added 2.4% in reaction to the iPhone 5 launch. China Unicom gained 1.8% while China Telecom dialled into a 1.3% advance.

Meanwhile a recovery in crude oil futures brought oil plays back into favour. Shares of Inpex climbed 2% in Tokyo while Cnooc rose 0.8%. Crude oil prices have fallen over 7% in the last four days.

Elsewhere shares of Japan Tobacco smouldered after a solid Imperial Tobacco update.

Japan Airlines failed to take off on Friday, falling 4.2%, after its initial public offering on Wednesday. The airline said it would reduce flights to China in October. Around 12,000 flights have already been cancelled.



CJ

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