Investing.com – Asian stocks advanced on Thursday, as better-than-expected U.S. manufacturing data helped lift market sentiment and eased fears over global economic growth.
Hong Kong's Hang Seng Index was up 1.27%; South Korea's Kospi Composite gained 0.63%; and Japan’s Nikkei 225 Index advanced 1.52%.
On Wednesday, industry data showed that manufacturing activity in the U.S. increased unexpectedly in August, after slowing in July.
In Japan, many of the big name Japanese exporters gained on the data, as shares in electronics giant Sony advanced 2.19%, Sharp stocks rose 1.13% and Canon gained 1.15%.
In Hong Kong, financial sector stocks led gains, as shares in Chinese insurers, Ping An Insurance soared 4.43%, after it announced plans to merge its bank unit with Shenzhen Development Bank of China, whose stocks rose 3.88% following the news.
In the commodity sector, crude oil prices declined 0.09% to hit USD 73.94 a barrel.
The outlook for European equity markets, meanwhile, was downbeat: EURO STOXX 50 futures indicated a loss of 0.22%, France’s CAC 40 futures pointed to a decline of 0.32% and Germany's DAX futures indicated a drop of 0.35%.
Later in the day, the U.S. was to release key weekly data on initial jobless claims, as well as industry data on pending home sales.
Hong Kong's Hang Seng Index was up 1.27%; South Korea's Kospi Composite gained 0.63%; and Japan’s Nikkei 225 Index advanced 1.52%.
On Wednesday, industry data showed that manufacturing activity in the U.S. increased unexpectedly in August, after slowing in July.
In Japan, many of the big name Japanese exporters gained on the data, as shares in electronics giant Sony advanced 2.19%, Sharp stocks rose 1.13% and Canon gained 1.15%.
In Hong Kong, financial sector stocks led gains, as shares in Chinese insurers, Ping An Insurance soared 4.43%, after it announced plans to merge its bank unit with Shenzhen Development Bank of China, whose stocks rose 3.88% following the news.
In the commodity sector, crude oil prices declined 0.09% to hit USD 73.94 a barrel.
The outlook for European equity markets, meanwhile, was downbeat: EURO STOXX 50 futures indicated a loss of 0.22%, France’s CAC 40 futures pointed to a decline of 0.32% and Germany's DAX futures indicated a drop of 0.35%.
Later in the day, the U.S. was to release key weekly data on initial jobless claims, as well as industry data on pending home sales.