TOKYO (AP) – Asian stock markets rose Friday after big gains on Wall Street as China's expression of confidence in Europe's ability to restore financial stability eased worries about the region's debt crisis.

The show of faith in Europe let markets resume a rally that stalled late Wednesday following a report that China was considering cutting its exposure to European debt. The agency that manages China's $2.5 trillion in foreign reserves denied the report and said Europe would always be one of its major investment destinations.

The euro recovered as a result, climbing to 112 yen levels from around 100 yen the previous day.

Despite a triple dose of sobering economic news, Japan's Nikkei 225 stock average jumped 123.26 points, or 1.3 percent, to 9,762.98 as investors bought exporters including tech companies and automakers.

Japan's government said Friday that unemployment rose for the third straight month in April, prices kept sliding and household spending fell.

Hong Kong's Hang Seng, meanwhile, added 1.8 percent to 19,774.62 and Australia's S&P/ASX 200 rose 1.8 percent to 4,457.5. Benchmarks in mainland South Korea, India and Taiwan also advanced.

Financial markets in Singapore, Thailand, Malaysia and Indonesia were closed for national holidays.