Investing.com – Asian stock markets were broadly higher on Thursday, as concerns over rising energy prices eased after oil prices retreated from a 29-month high, while Japanese exporters advanced amid optimism over the U.S. economic recovery.
During late Asian trade, Hong Kong's Hang Seng Index added 0.3%, South Korea's Kospi Composite surged 2.2%, while Japan’s Nikkei 225 Index climbed 0.89%.
Shares in Japanese exporters advanced after the Federal Reserve said in its Beige Book that the labor market improved throughout the U.S. early this year, driven by increasing retail sales and “solid growth” in manufacturing.
The world’s largest tire maker Bridgestone saw shares jump 2.17%, while Fanuc, an industrial-robot manufacturer that gets nearly 80% of its revenue overseas added 1.2%.
Meanwhile, shares in the world’s second largest manufacturer of chip-testing equipment Advantest climbed 1.52% after JP Morgan raised its recommendation on the semiconductor industry.
In Hong Kong, shares in the financial sector performed strongly, with shares in the nation’s largest lender Industrial and Commercial Ban of China jumping 1.46% after it raised its earnings outlook for the fiscal first quarter.
Shares in rival Construction Bank saw shares gain 1.17%, while Bank of China added 0.98%.
Meanwhile, airliner Cathay Pacific Airways rose for the first time in four days, climbing 2.9% as oil prices retreated.
The outlook for European stock markets was upbeat. The EURO STOXX 50 futures indicated a gain 0.68%, France’s CAC 40 futures pointed to an increase of 0.69%, Germany's DAX futures added 0.67%, while the FTSE 100 futures pointed a rise of 0.69%.
Later in the day, the U.S. was to release data on initial jobless claims, as well as a report on service sector activity, while Federal Reserve head Ben Bernanke was to speak at a public engagement.
During late Asian trade, Hong Kong's Hang Seng Index added 0.3%, South Korea's Kospi Composite surged 2.2%, while Japan’s Nikkei 225 Index climbed 0.89%.
Shares in Japanese exporters advanced after the Federal Reserve said in its Beige Book that the labor market improved throughout the U.S. early this year, driven by increasing retail sales and “solid growth” in manufacturing.
The world’s largest tire maker Bridgestone saw shares jump 2.17%, while Fanuc, an industrial-robot manufacturer that gets nearly 80% of its revenue overseas added 1.2%.
Meanwhile, shares in the world’s second largest manufacturer of chip-testing equipment Advantest climbed 1.52% after JP Morgan raised its recommendation on the semiconductor industry.
In Hong Kong, shares in the financial sector performed strongly, with shares in the nation’s largest lender Industrial and Commercial Ban of China jumping 1.46% after it raised its earnings outlook for the fiscal first quarter.
Shares in rival Construction Bank saw shares gain 1.17%, while Bank of China added 0.98%.
Meanwhile, airliner Cathay Pacific Airways rose for the first time in four days, climbing 2.9% as oil prices retreated.
The outlook for European stock markets was upbeat. The EURO STOXX 50 futures indicated a gain 0.68%, France’s CAC 40 futures pointed to an increase of 0.69%, Germany's DAX futures added 0.67%, while the FTSE 100 futures pointed a rise of 0.69%.
Later in the day, the U.S. was to release data on initial jobless claims, as well as a report on service sector activity, while Federal Reserve head Ben Bernanke was to speak at a public engagement.