* Dollar near three-year high vs yen
* Shares gain in Japan, and Hong Kong, boosted by U.S. rally
* Oil prices back near multi-year highs
* Bitcoin at six month high, approaching record
HONG KONG, Oct 15 (Reuters) - Asian shares edged up on
Friday, building on Wall Street's positive lead after a set of
strong U.S. corporate earnings, although worries about the
Chinese economy capped gains.
Oil prices were at multi-year highs, a drag on growth in
energy-importing markets in north Asia, but good news for some
energy-exporting markets in Southeast Asia.
MSCI's broadest index of Asia-Pacific shares outside Japan
gained 1.07%, and was set for a 1.7% weekly
gain, which would be its best weekly performance since early
September, while Japan's Nikkei surged 1.81%, led by tech
Index futures suggested the rally was set to follow into
European markets. Pan-region Euro Stoxx 50 futures were
up 0.36% and FTSE futures gained 0.31%. U.S. stock
futures gained 0.3%.
Analysts largely attributed the gains in Asia to the U.S.
Kenny Ng, a securities strategist at Everbright Sun Hung Kai
in Hong Kong, said the local benchmark's 1.06% rise -
among the biggest in Asia on Friday - was due to overnight gains
in U.S. stocks, as well as positive news from mainland China for
Hong Kong-listed new energy vehicle and education companies.
Japan's Nikkei rose 1.56%, with analysts also
pointing to gains on Wall Street boosting local tech names.
U.S. shares powered ahead overnight after data showed a fall
in new claims for unemployment benefits, lower-than-expected
factory gate price inflation and forecast-beating results for
the four largest U.S. consumer banks.
"The stagflation narrative had some cold water thrown over
it," said Kyle Rodda an analyst at IG markets.
Chinese shares rose more cautiously than elsewhere with blue
chips up 0.43% and the Shanghai Composite index
gaining 0.46%, as investors balanced expectations of
policy easing against worries of a slowing economy, ahead of
quarterly GDP data due Monday.
"We expect GDP growth to slow to 4.6% year-on-year in the
third quarter from 5.6% previously, in view of persistent
weakness in consumption and services amid repeated COVID
outbreaks, and the fading of the low year-earlier base," said
Barclays analysts in a note.
In currency markets, the dollar rose again to a near three-
year high on the yen on Friday with one dollar buying
114.07 yen, the most since late 2018.
The dollar index, which measures the greenback
against a basket of currencies, was marginally lower on the day,
at 93.97 and set for its first weekly decline versus major peers
since the start of last month, having lost a little ground on
sterling and the euro.
The yield on benchmark 10-year Treasury notes
was 1.5301%, slightly higher on the day, after trending
downwards this week from Tuesday's four-month high of 1.631%.
U.S. crude gained 0.82% to $81.98 a barrel, back near
Monday's seven-year high of $82.18. Brent crude rose
0.9% to $84.78 per barrel, around its three-year high hit
Bitcoin also hit a six-month high of $60,000 on
Friday, approaching the record hit in April, as traders became
increasingly confident U.S. regulators would approve the launch
of an exchange-traded fund based on its futures contracts.
(Reporting by Alun John; Editing by Muralikumar Anantharaman
and Sam Holmes)