Japanese equities rally during the week.
Visitors look at a stock quotation board at the Tokyo Stock Exchange in Tokyo on 14 November, 2013 (Reuters).

Asian stock markets outside Australia and India ended the week higher. The Japanese Nikkei led the pack while India's Sensex trailed.

Markets witnessed mixed trade at the beginning of the week as upbeat US jobs data sparked US Federal Reserve QE taper fears.

The American economy added 204,000 new jobs in October. The job numbers were despite a 16-day partial shutdown of the government last month, which was caused by a political argument over raising the country's debt-limit.

In addition, the report disclosed that 60,000 more jobs were created in September and August than previously reported.

China put out upbeat economic data. Official reports showed that industrial production rose 10.3% year-on-year in October, beating expectations. Industrial production rose 10.2% in September.

Exports grew 5.6% year-on-year in October, thanks to a higher demand from the US and Europe. Inflation inched up to 3.2% from 3.1%, and remains within the government's comfort range.

Equities in the Philippines suffered on news that super typhoon Haiyan killed some 10,000 people in the central Philippine province of Leyte. The category-five storm which barrelled through the Philippines was one of the most powerful cyclones ever to hit the landmass. The typhoon will inflict up to $19bn worth of economic losses on the country.

In Sydney, explosives maker Orica surged 11.6% after it reported a 49% surge in full-year profit from the previous year's $403m.

Markets outside Hong Kong and India traded higher on 12 November, ahead of the release of a reforms blueprint in China and amid the uncertainty surrounding the future pace of US monetary stimulus.

In the Philippines, tropical cyclone Zoraida struck the landmass, still reeling under the devastation caused by Typhoon Haiyan. The UK and the US announced they would send warships to the Philippines to boost rescue operations.

In Australia, sentiment was dampened after a National Australia Bank survey revealed that business confidence had dropped from October's three-and-a-half year high.

In Sydney, fertiliser maker Incitec Pivot rallied over 7% despite reporting an 18% drop in full-year net profit. The result beat analyst forecasts.

Markets traded to the downside on 13 November after a communiqué from a Communist Party meeting in China failed to provide concrete details about the nation's reform road-map.

A four-day closed-door meeting of senior Communist Party officials ended with a vaguely worded communiqué, devoid of specifics about how China's new leaders would reform the world's second largest economy over the next decade.

The communiqué did, however, mention that the government would push for fewer investment restrictions and greater rights for farmers. Economists were left wondering as to how to interpret the document.

In Mumbai, shoe-maker Bata jumped 4.3% on news that parent firm Bata BN BV had acquired close to a 1% stake in the Indian operation through an open market transaction.

Japanese equities led Asian markets higher, on 14 November, after third-quarter GDP data from Japan beat expectations.

Meanwhile, markets elsewhere in the region logged gains on US Federal Reserve Vice Chair Janet Yellen's monetary stimulus comments.

Data from Japan showed that the world's third largest economy expanded by 1.9% in the July-September quarter. While the latest reading is lower than the preceding quarter's 3.8% growth, it beat economists' forecast of a 1.7% expansion. The news boosted Japanese stocks.

Earlier, defending the US central bank's $85bn-a-month bond purchase program, Yellen said: "I believe that supporting the recovery today is the surest path to returning to a more normal approach to monetary policy."

Yellen's comments came in her prepared statement to the Senate Banking Committee, which the committee released ahead of her testimony to the Senate later on 14 October.

In Tokyo, index heavyweight Fast Retailing jumped 5% while industrial robots maker Fanuc shot up 3%.

Markets enjoyed a relief-rally on the final trading day, with the Japanese Nikkei finishing above 15,000 points for the first time since May, after Fed Vice Chair Yellen signaled her support for the central bank's ultra-easy monetary policy.

Markets in China were also supported by news that the government could release a more detailed version of the Third Plenum communique next week - investors await a clearer picture of Beijing's reform road-map.

Japanese equities gained on the back of a weaker yen, which was pulled down by a stronger US dollar that breached the 100 yen level overnight following Fed Vice Chair Yellen's dovish comments.

In the US, speaking at her confirmation hearing before the US Senate Banking Committee, Yellen said the Fed would not reduce its $85bn-a-month bond-buying stimulus program anytime soon.

"These purchases have made a meaningful contribution to economic growth and improving the outlook," she said on 14 November.

In Tokyo, PlayStation maker Sony jumped 3.3% ahead of the release of the highly anticipated PlayStation 4 gaming console.

Market Movements

The Japanese Nikkei index ended 7.61% higher at 15,165.92.

The Shanghai Composite index ended 1.24% higher at 2,135.83.

Hong Kong's Hang Seng ended 1.14% higher at 23,032.15.

South Korea's Kospi finished 0.95% higher at 2,005.64.

Australia's S&P/ASX 200 finished 0.36% lower at 5,401.70.

India's S&P BSE Sensex finished 2.37% lower at 20,399.42.

The Week Ahead

The US Senate could vote on Janet Yellen's nomination to the Federal Reserve Chair. If elected, she will be the first woman to head the world's most powerful central bank.

Meanwhile, outgoing Fed chief Ben Bernanke will address a press conference.

China will release year-to-date foreign direct investment (FDI) data. The government will also put out house price index data for the month of October.

The Bank of Japan will announce its interest rate decision and put out its monetary policy statement.

The Japanese government will put out merchandise trade balance data for the month of October.

The Reserve Bank of Australia will release the minutes of its latest policy meeting.

RBA Governor Glenn Stevens will address a press conference.