Asian stocks rallied for a 5^th week, marking the longest winning streak of the regional benchmark index in over a year, while U.S. economic reports depicted that U.S. economy is strengthening and declining European borrowing costs indicated that the debt crunch might be easing.

Japanese Nikkei 225 Stock Average added up 3.1%, while Japanese lenders advanced following the central bank postponed the sale of stocks bought from the banks. South Korean Kospi Index advanced by 4%.

Australian S&P/ASX 200 advanced by 1%. Shanghai Composite Index of China shot up by 3.3%, whereas Hong Kong’s Hang Seng Index rallied up by 4.7%. Chinese and Taiwanese market will be closed for the Lunar New Year holiday next week, whilst in Hong Kong the market will be shut from January 23 to January 25.

Toyota Motor Corporation, which is the biggest car manufacturer in the world in terms of market value, went up by 3.5%. Samsung Electronics Co. (005930), which receives 20% of sales from Europe, added up 5.6% in Seoul. China Construction Bank Corporation, which is China’s No. 2 lender, surged up by 5.9% amidst signs that policy makers could ease lending limitation to stimulate growth in the China’s economy.

Exporters rallied up, as Toyota gained 3.5% to 2,729 yen in Tokyo, and Honda Motor Co. (7267) that considers U.S and Canada as its top market went up by 4.1% to settle at 2,658 yen. Li & Fung Ltd. that supplies clothes and toys to retailers such as Wal-Mart Stores Inc., added up 7.8% to HK$17.20.