BANGKOK — Major Asian stock markets advanced Friday as improving economic data from the China and U.S. supported views that the worst of the global recession is passing. European markets opened narrowly mixed. Japan's benchmark Nikkei 225 index closed above 10,000 for the first time in eight months. Oil prices fell. Investors were heartened by U.S. reports showing a drop in jobless claims and higher retail sales in the world's largest economy — a major Asian export market — although gains on Wall Street were limited overnight on concerns the three-month rally in markets worldwide is nearing its limit. China got more positive news Friday when the government said retail sales and industrial output grew strongly in May amid heavy stimulus spending. That followed figures showing domestic investment in factories, real estate and other fixed assets soared 32.9 percent in the first five months of the year, even as exports and imports tumbled in May. Beijing is trying to shield the Chinese economy from the plunge in demand from Western consumers by injecting money into the economy through heavy spending on construction projects — and so far that seems to be working. "China has had a lot of success in boosting domestic demand, and that's been driven by government spending," said Daniel McCormack, a strategist for Macquarie Securities in Hong Kong. "What China is trying to do is spend money until external demand comes back." Investment money was flowing into the region's markets because of perceptions that "Asia is structurally sound and that's where the growth is," he said. As trading got underway in Europe, Britain's FTSE 100 was up 4.84, or 0.1 percent, at 4,466.71, while Germany's DAX was down 5.9, or 0.1 percent, at 5,099.58. U.S. stock futures were up a touch. Dow futures gained 5 points to 8,756, while S&P futures were up 1.3 points to 939.50. In Asia, optimism about a global recovery in Japan lifted the Nikkei average 154.49 points, or 1.6 percent, to 10,135.82, the highest since Oct. 7. For the week, it climbed 3.8 percent. Hong Kong's Hang Seng index added 98.65 points, or 0.5 percent, to 18,889.68. Australia's key index gained 0.4 percent to 4,062.2, while South Korea's Kospi climbed 0.7 percent to 1,428.59. But analysts cautioned that the rally may fade, and that investors will want more proof that conditions are improving before bidding prices higher. Mainland China's Shanghai's Composite index — which has surged more than 40 percent this year — fell 1.9 percent to 2,743.76. Analysts said investors appeared confused by recent mixed data that showed rising retail sales and industrial output but plunging exports. "Investors are turning cautious. They used to think the Chinese economy has already bottomed out. But the new data showed it's a tough road of recovery ahead," said Huang Xiangbin, an analyst for Cinda Securities in Beijing. Chinese steelmakers tumbled after Japanese and Korean mills and a major Brazilian miner agreed Thursday on iron ore prices that are higher than those sought by Chinese mills. That suggested pressure was building on Chinese mills to agree to pay more. Baoshan Iron & Steel Ltd., China's biggest steel producer, fell 3.2 percent. Wall Street managed modest gains Thursday. The Dow Jones industrial average rose 31.9 points, or 0.4 percent, to 8,770.92. The S&P 500 rose 0.6 percent to 944.89, while the Nasdaq Composite index rose 0.5 percent to 1,862.37. Oil prices fell back after hitting an eight-month high Thursday. Benchmark crude for July delivery slipped 65 cents to $72.03 a barrel by late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. A day earlier, it climbed to $72.68. In currencies, the dollar rose to 98.07 yen from 97.51 yen late Thursday, while the euro fell to $1.4057 from $1.4125.

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