Market Report - Japan Output Up

A jump in Japanese manufacturing in April and forecasts of better production ahead supported shares in the world's Number 2 economy today.

Asian stocks also were mostly higher, as the impact of billions of dollars in government stimulus and corporate restructuring moves began to materialize in Japan.

Unemployment in Japan rose to a five-and-a-half-year high of five percent, while job openings and household spending both fell in April.

Toshiba rose after a report the world's Number 2 NAND flash memory maker announced plans to boost output without increasing staff.

Shares in Australia and Hong Kong gained as oil and commodities-related firms rose with prices.

And regional investors await news on General Motors, which remained on track to file for bankruptcy protection within days, despite persuading major bondholders to accept a sweetened ownership plan Thursday.

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[matthewandrew]

yay for the PHILIPPINES!