japan<u+2019>s nikkei entered bull market territory on friday, with a weaker yen helping drive gains across key asian markets as robust u.s. economic data buoyed expectations of an interest-rate increase next month. the nikkei stock average closed up 0.6% at 17967.41 points, up 20% from its recent low in june and having hit a ten-month high earlier in the session. the wall street journal and many other market watchers call it a bull market when stocks rise 20% off a low point. elsewhere, australia<u+2019>s s&p/asx 200 ended 0.4% higher, the hang seng index in hong kong was last up 0.4%, and singapore<u+2019>s ftse straits times index was last up 0.8%. the nikkei was the second asian stock index to enter a bull market so far this month, with the shanghai composite index rising 20% from a january low last friday. the mainland chinese index ended friday down 0.5%. overnight, federal reserve chairwoman janet yellen said an interest-rate increase could happen <u+201c>relatively soon.<u+201d> her comments come amid upbeat data, with the number of americans applying for first-time unemployment benefits falling to its lowest level since november 1973. meanwhile, u.s. consumer prices increased in october from a year earlier at the fastest rate in two years. according to cme group <u+2019>s fedwatch tool, the likelihood of an interest-rate rise at the fed<u+2019>s meeting in december is now higher than 90%. <u+201c>it<u+2019>s all [about] yellen<u+2019>s speech,<u+201d> said tareck horchani, deputy head of asian-pacific sales trading at saxo markets. <u+201c>all of this pushed the dollar higher<u+2026>and dollar-yen exploded.<u+201d> the dollar gained further strength in early asia trade friday, pushing it beyond the <u+00a5>110 mark for the first time in five months. the yen was recently down 0.6% against the greenback, at <u+00a5>110.56 to the dollar. japan<u+2019>s finance minister on friday said the yen<u+2019>s recent weakening was a sign of stability returning to the markets, welcoming a reversal in the currency<u+2019>s uptrend sparked by donald trump <u+2019>s win in the u.s. presidential election. japanese exporters caught an updraft from the favorable currency winds, as their goods became cheaper to ship around the globe. chip maker renesas electronics ended up 5.3%, auto maker suzuki motor rose 4.6% and electronics giant sharp added 4.1%. across the region, financial stocks got an early boost as investors continued to bet that mr. trump<u+2019>s presidency could see looser banking regulations and higher interest rates. the s&p/asx financials subindex was up 0.5%, while the hang seng financials subindex added 0.4%. however, shares in asian emerging markets faced further selling pressure, with analysts expecting more declines given that rate increases will likely spur a flight of capital back to the u.s., as investors search for higher yields. in indonesia, the jakarta composite index was last down 0.7%, while the ftse bursa malaysia index was off 0.3%, and the thailand set index fell 0.4%. <u+201c>i expect the broad selloff to continue in emerging markets in asia because i feel if the rates in the u.s. are really going to go up, there is no point putting your money in risky countries,<u+201d> said mr. horchani. elsewhere, oil prices slumped on the stronger dollar and as hopes that members of the organization of the petroleum exporting countries could reach a deal to cut output at their nov. 30 meeting took a dive. <u+201c>the market is lowering expectations regarding the opec talk and oil prices dropped back down,<u+201d> said alex wijaya, a sales trader at cmc markets, in a note. brent crude, the global price benchmark, was last down 0.7% at $46.17 a barrel in asian trade. shares in oil producers across asia felt the pinch. australia<u+2019>s santos ltd. fell 1.5%, while japanese oil and gas explorer inpex corp. slipped 1.1%. in hong kong, oil major petrochina co. was flat. <u+2014>kosaku narioka and takashi nakamichi contributed to this article. write to ese erheriene at ese.erheriene@wsj.com
asia shares gain; japan<u+2019>s nikkei enters bull market - wsj
ese erheriene