Investing.com - Asian stocks rose on Thursday after China reported its gross domestic product grew 7.4% in the third quarter, in line with expectations.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was up 0.48%, Australia's S&P/ASX200 was up 1.11%, while Japan’s Nikkei 225 Index was up 1.80%.
Chinese growth figures sent stocks firming, boosting hopes the large Asian economy may be turning a corner toward more robust growth rates.
Hopes that Spain will request a bailout sparked demand for stocks as well.
European Union policymakers on Thursday will open a two-day summit in Brussels to discuss Greece's steps towards restoring fiscal health as well as ways to firewall and extinguish the debt crisis, especially in Spain.
Surprisingly strong U.S. housing data added to the rally.
The U.S. Census Bureau reported earlier that housing starts rose 15% in September to a seasonally adjusted 872,000 units, far surpassing market calls for a 2.7% increase to 770,000.
The U.S. government added that the number of building permits issued in September rose 11.6% to a seasonally adjusted 894,000, beating out expectations for a 1.1% gain to 810,000.
Hong Kong, top gainers included Li & Fung, up 3.91%, CHALCO, up 3.42%, and China Petroleum & Chemical Corp., up 2.60%.
In Australia, top gainers included Mount Gibson Iron, up 18.80%, Aquarius Platinum, up 10.34% as well, and Imdex, up 8.83%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.20%, while Germany's DAX 30 futures pointed to a gain of 0.15% as well. Meanwhile in the U.K., FTSE 100 futures were up 0.04%.
Dow Jones Industrial Average futures were up 0.01%, while the S&P 500 futures were also up 0.01%.
Later Thursday in the eurozone, Spain and France are scheduled to hold auctions of government debt.
Markets will keep an eye on an E.U. summit in Brussels, awaiting word of any policy announcements to firewall and extinguish the European debt crisis.
The U.S. is to publish weekly government data on initial jobless claims, as well as a report on manufacturing activity in Philadelphia, a leading indicator of economic strength.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was up 0.48%, Australia's S&P/ASX200 was up 1.11%, while Japan’s Nikkei 225 Index was up 1.80%.
Chinese growth figures sent stocks firming, boosting hopes the large Asian economy may be turning a corner toward more robust growth rates.
Hopes that Spain will request a bailout sparked demand for stocks as well.
European Union policymakers on Thursday will open a two-day summit in Brussels to discuss Greece's steps towards restoring fiscal health as well as ways to firewall and extinguish the debt crisis, especially in Spain.
Surprisingly strong U.S. housing data added to the rally.
The U.S. Census Bureau reported earlier that housing starts rose 15% in September to a seasonally adjusted 872,000 units, far surpassing market calls for a 2.7% increase to 770,000.
The U.S. government added that the number of building permits issued in September rose 11.6% to a seasonally adjusted 894,000, beating out expectations for a 1.1% gain to 810,000.
Hong Kong, top gainers included Li & Fung, up 3.91%, CHALCO, up 3.42%, and China Petroleum & Chemical Corp., up 2.60%.
In Australia, top gainers included Mount Gibson Iron, up 18.80%, Aquarius Platinum, up 10.34% as well, and Imdex, up 8.83%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.20%, while Germany's DAX 30 futures pointed to a gain of 0.15% as well. Meanwhile in the U.K., FTSE 100 futures were up 0.04%.
Dow Jones Industrial Average futures were up 0.01%, while the S&P 500 futures were also up 0.01%.
Later Thursday in the eurozone, Spain and France are scheduled to hold auctions of government debt.
Markets will keep an eye on an E.U. summit in Brussels, awaiting word of any policy announcements to firewall and extinguish the European debt crisis.
The U.S. is to publish weekly government data on initial jobless claims, as well as a report on manufacturing activity in Philadelphia, a leading indicator of economic strength.