Japan' s Nikkei Stock Average approached the 20000 mark on Thursday, its highest level since late August, as the Japanese yen weakened.

The Nikkei Stock Average rose 0.5% to 19953.25, Australia' s S& P/ASX 200 gained 0.8% and South Korea' s Kospi rose 0.9%.

The Shanghai Composite Index rose 0.5%.

Japan shares have posted one of the strongest rebounds in the region since many benchmarks sank to lows in late September.

The Nikkei last closed above the 20000 level on Aug. 20. A weakening yen, which boost exporters, has helped lift the index 18% from its recent bottom on Sept. 29.

The local currency has weakened 3.2% against the U.S. dollar in the past three months, and last traded at Yen122.72 per U.S. dollar early Thursday. The dollar strengthened overnight after a relatively upbeat U.S. jobs report . The yen closed at Yen122.70 on Wednesday in Asia.

Some investors have sought exposure to Japan as " a bit of a hedge against the Fed raising rates," said Chris Weston, a market analyst at brokerage IG.

Expectations the  U.S. Federal Reserve  will raise interest rates in December would strengthen the dollar against the yen, which could push the Nikkei higher.

A weaker Japanese yen helps exporters that repatriate their profits from abroad. The currency traded as weak as Yen123.67 against the U.S. dollar on Nov. 18, marking its weakest level since Aug. 20.

Robust third-quarter earnings and the prospect of more stock buybacks--given firms' huge cash balances--have added to stock investors' optimism, added Mr. Weston.

Overnight, the latest U.S. report on jobless claims pointed to a strengthening employment picture, pushing the dollar higher. U.S. stocks ended mostly unchanged as consumer discretionary and health-care shares offset losses in other sectors on the last full trading day of the week before the Thanksgiving holiday.

Stronger-than-expected U.S. durable-goods orders for October signaled increased demand for manufactured products. With the jobs report, analysts expect the  Federal Reserve  to remain on track for raising rates next month.

In Australia, materials shares fell by a fraction, and are down 3.4% so far this week, with commodities like copper and nickel having tumbled to multiyear lows.

BHP Billiton Ltd. fell 2.3% in early trading. That stock is down 6.3% this week.

Many metals are still trading at their weakest levels in years.

Copper futures closed lower in London Wednesday, as a stronger dollar pressured prices. Because the metal is priced in U.S. dollars, a stronger currency makes the metal more expensive for other currency holders.

The London Metal Exchange' s three-month copper contract closed down 1.3% at $4,549 a metric ton.

Among the other base metals, aluminum closed up 1% at $1,460 a ton, zinc closed up 2.1% at $1,578 a ton, nickel closed up 1.5% at $8,910 a ton, lead closed up 0.5% at $1,614.50 a ton and tin closed up 2.2% at $14,745 a ton.

Energy shares on the S& P/ASX 200 gained 0.5%.

Brent oil futures were up 0.2% at $46.28 a barrel. U.S. crude-oil futures rose 0.4% to $43.04 a barrel.

Gold prices were up 0.1% at $1071.50 a troy ounce.