Asian shares gain as investors shrug off downbeat data

BANGKOK — Shares were higher in Asia on Friday, despite data suggesting economies are slowing. The advance tracked gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses.

Tokyo’s Nikkei 225 index added 1.2% to 26,491.97 and the Kospi in Seoul jumped 2.4% to 2,369.16. Hong Kong’s Hang Seng advanced 2% to 21,707.92 and the Shanghai Composite index added 1% to 3,354.63.

In Australia, the S&P/ASX 200 gained 0.8% to 6,577.40. Shares also rose in India and Taiwan.

U.S. and European futures also were higher.

Market players are looking ahead to U.S. inflation data due next week. They appeared to shrug off preliminary data showing a slowing of factory activity in several countries including Japan.

The manufacturing manager surveys of “several developed economies came in lower-than-expected in both the manufacturing and services…