Japanese shares lead Asia's gains in early trade

It was a mixed picture for Asian shares at the start of a week shortened by holidays, amid quiet trade as Japanese shares lead the region's gains. The benchmark Nikkei 225 index was up 0.1% to 18,792.67 despite economic data painting a gloomier picture of the world's third largest economy. Data showed Japan's factory output fell 1% in November from the previous month, marking the first fall in three months. Retail sales also fell below forecasts and declined 1% from a year ago. Japan's economy narrowly avoided a recession in the third quarter and economists are expecting only modest growth in the current one. Advertisement Shares of Sharp, however, were up more than 7% on reports that the struggling consumer electronics firm has received a purchase offer from Taiwan's electronics supplier Hon Hai Precision. Chinese shares were mixed in early trade with the Shanghai Composite flat at 3,629.19, Hong Kong's Hang Seng index down 0.3% to 22,063.11. In South Korea, the Kospi index was down 0.4% at 1,983.42 points. The Australian market is closed for a public holiday.

Asia's investors cheer the Fed's move to raise rates

Shares in Asia were all in positive territory on Thursday on news the US Federal Reserve had raised its rates for the first time since June 2006. The move takes the range of rates banks offer to lend to each other overnight to between 0.25% and 0.5%. Australia's stock exchange was the first major benchmark index in the region to open to the news - and investors cheered. Sydney's S&P/ASX 200 was up as much as 1.6% in early trade. Japan's Nikkei 225 was up 2.15% at 19,460.20 after marking one of its biggest daily gains in more than two months on Wednesday.