Asia shares close firm on upbeat data

Asian stocks advanced yesterday, with Tokyo's index up nearly 3 percent, as better-than-expected news about the US and Chinese economies raised hopes the global downturn was nearing a bottom.

The region's upward swing followed Wall Street, where investors breathed a little easier after a surprise jump in home sales in December suggested the battered housing market might soon stabilize.

Investors also were heartened by yesterday's report pointing to possible recovery in Chinese manufacturing. While manufacturing shrank again in January, the contraction was less severe than in recent months and seen by some as a sign China's stimulus measures might be taking hold.