Investing.com - Asian stock markets were broadly higher on Thursday, tracking sharp overnight gains in Europe and the U.S. amid optimism over the global economic outlook.
During late Asian trade, Hong Kong's Hang Seng Index surged 1.8%, Australia’s ASX/200 Index jumped 1%, while Japan’s Nikkei 225 Index added 0.76%.
Global equities rallied on Wednesday, after manufacturing data from Germany, the U.S. and China remained resilient, easing concerns over the global economic outlook. Sentiment was further supported by indications that negotiations with Greece’s creditors are very close to being finalized.
Meanwhile, shares in the financial sector boosted the Nikkei higher following upbeat earnings from Nomura Holdings and Mitsubishi UFJ Financial Group.
Nomura, Japan’s largest brokerage saw shares rally 7.15% after reporting a 33% on-year gain in net profit in the October-December period, as its cost-cutting measures and an asset sale mitigated the effects of global financial instability and the European debt crisis.
Mitsubishi UFJ shares climbed 2.5% after reporting a 48% increase in its nine-month net profit. Shares in rival Sumitomo Mitsui Financial Group added 2.15%, while Mizuho Financial Group added 2.6%.
On the downside, Sharp saw shares plunge 15.9% to the lowest level since January 1980, after forecasting a record net loss of JPY290 billion for the current fiscal year.
Elsewhere, shares in Hong Kong were higher after Chinese Premier Wen Jiabao said earlier the government will support small businesses with a CNY15 billion fund, fueling speculation Beijing will introduce further easing measures as growth in the world’s second-largest economy moderates.
Insurance giant Ping An saw shares climb 5.95%, Industrial and Commercial Bank of China shares gained 4.1%, while China Construction Bank shares added 2.45%.
Raw material producers were also higher, tracking gains in oil and metal prices. Aluminum Corporation of China saw shares rise 3.15%,oil giant CNOOC advanced 4.45%, while gold producer Zijin Mining Group jumped 5.2%.
Looking ahead, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.5%, France’s CAC 40 futures added 0.45%, London’s FTSE 100 futures rose 0.35%, while Germany's DAX futures climbed 0.25%.
Later in the day, France and Spain were to hold auctions of government debt, with Spain offering as much as EUR4.5 billion in short to medium term debt and France offering up to EUR8 billion.
Meanwhile, Fed Chairman Ben Bernanke was to testify before the House of Representatives budget committee. The U.S. was also to produce government data on initial jobless claims.
During late Asian trade, Hong Kong's Hang Seng Index surged 1.8%, Australia’s ASX/200 Index jumped 1%, while Japan’s Nikkei 225 Index added 0.76%.
Global equities rallied on Wednesday, after manufacturing data from Germany, the U.S. and China remained resilient, easing concerns over the global economic outlook. Sentiment was further supported by indications that negotiations with Greece’s creditors are very close to being finalized.
Meanwhile, shares in the financial sector boosted the Nikkei higher following upbeat earnings from Nomura Holdings and Mitsubishi UFJ Financial Group.
Nomura, Japan’s largest brokerage saw shares rally 7.15% after reporting a 33% on-year gain in net profit in the October-December period, as its cost-cutting measures and an asset sale mitigated the effects of global financial instability and the European debt crisis.
Mitsubishi UFJ shares climbed 2.5% after reporting a 48% increase in its nine-month net profit. Shares in rival Sumitomo Mitsui Financial Group added 2.15%, while Mizuho Financial Group added 2.6%.
On the downside, Sharp saw shares plunge 15.9% to the lowest level since January 1980, after forecasting a record net loss of JPY290 billion for the current fiscal year.
Elsewhere, shares in Hong Kong were higher after Chinese Premier Wen Jiabao said earlier the government will support small businesses with a CNY15 billion fund, fueling speculation Beijing will introduce further easing measures as growth in the world’s second-largest economy moderates.
Insurance giant Ping An saw shares climb 5.95%, Industrial and Commercial Bank of China shares gained 4.1%, while China Construction Bank shares added 2.45%.
Raw material producers were also higher, tracking gains in oil and metal prices. Aluminum Corporation of China saw shares rise 3.15%,oil giant CNOOC advanced 4.45%, while gold producer Zijin Mining Group jumped 5.2%.
Looking ahead, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.5%, France’s CAC 40 futures added 0.45%, London’s FTSE 100 futures rose 0.35%, while Germany's DAX futures climbed 0.25%.
Later in the day, France and Spain were to hold auctions of government debt, with Spain offering as much as EUR4.5 billion in short to medium term debt and France offering up to EUR8 billion.
Meanwhile, Fed Chairman Ben Bernanke was to testify before the House of Representatives budget committee. The U.S. was also to produce government data on initial jobless claims.