Investing.com - Shares in Tokyo rose on Friday on gains overnight in the U.S. and ahead of polls the ruling party is expected to win handily at the weekend, but Australia stayed nearly flat as oil prices fell to their lowest levels in five years.

The Nikkei 225 was up 0.7% to 17369.78, as the U.S. dollar strengthened.

The gains in Japan came after U.S. stocks rose Thursday with the help of stronger-than-expected data on U.S. consumer spending.

While Sunday's lower house parliamentary election results in Japan will be closely watched, no major changes affecting markets are expected, with the ruling Liberal Democratic Party-led coalition seen keeping its grip on power.

Oil fell below $60 a barrel overnight, the lowest level since July 2009, cutting into gains in the energy sector