Investors were encouraged by the latest U.S. jobs data showing fewer Americans filing for unemployment benefits, another sign that the economic recovery is underway.
Still, Tokyo's Nikkei 225 index gained 0.8% to 28,317.83. Australia's S&P/ASX 200 advanced 0.2% to 7,030.30. In Hong Kong, the Hang Seng was down less than 0.1% at 28,436.79, while the Kospi in Seoul declined 0.2% to 3,156.42. The Shanghai Composite index lost 0.6% to 3,486.37. Investors continue to be focused on the potential for inflation down the road. Prices for everything from gasoline to lumber have been rising sharply this year as the economy reheats after the pandemic, and investors have been worried that high inflation may cause the Federal Reserve to pull back on its stimulus efforts.