Investing.com – Asian stock markets rose sharply on Thursday, inspired by strong overnight gains on Wall Street and amid continued hope that euro zone policy makers will take action to stem the region’s debt crisis from spreading to the banking system.
During late Asian trade, Australia’s ASX/200 Index rallied 3.65%, Japan’s Nikkei 225 Index jumped 1.7%, while Hong Kong's Hang Seng Index soared 5.4% after being closed Wednesday.
U.S. equities rose sharply on Wednesday, with the Dow Jones Industrial Average climbing 1.2% and the S&P 500 Index rising 1.8%, boosted by stronger-than-expected ADP payrolls data and reports that European Union finance officials were looking at a bank recapitalization plan.
The upbeat sentiment carried over to the Asian trading session, with shares in the financial sector leading gains.
In Japan, shares in Nomura Holdings jumped 3.8%, while Daiwa Securities Group saw shares rally 4.25%.
Japanese exporters performed strongly, with consumer electronics giant Sony climbing 4.7%, rival Sharp was up 3.4%, while automakers Nissan and Honda advanced 4.25% and 1.6% respectively.
Shares in Japan’s second largest retailer Aeon surged 5.1% after raising its full-year earnings outlook above market expectations.
In Hong Kong, shares in property developers led gains amid speculation China may loosen monetary policy to prevent a “hard landing” in the property market.
Hong Kong’s largest property developer Sino Land Company saw shares soar 9.8%, the third largest property developer Hang Lung Properties gained 7.8%, while property investment firms China Overseas Land & Investment rallied 15.6%.
Shares in the financial sector also contributed to gains, with the nation’s largest lender Industrial and Commercial Bank of China surging 9.7%, China Construction Bank shares advanced 6.1%, while insurance firm Ping An climbed 9.4%.
Elsewhere, European stock markets were broadly higher ahead of the European Central Bank’s interest rate announcement. The EURO STOXX 50 rose 1.3%, France’s CAC 40 advanced 1.7%, the FTSE 100 climbed 1.1%, while Germany's DAX gained 1.45%.
Later in the day, ECB President Jean-Claude Trichet was to discuss the bank’s rate decision at a closely watched press conference. Meanwhile, the U.S. was to release its weekly report on initial jobless claims.
During late Asian trade, Australia’s ASX/200 Index rallied 3.65%, Japan’s Nikkei 225 Index jumped 1.7%, while Hong Kong's Hang Seng Index soared 5.4% after being closed Wednesday.
U.S. equities rose sharply on Wednesday, with the Dow Jones Industrial Average climbing 1.2% and the S&P 500 Index rising 1.8%, boosted by stronger-than-expected ADP payrolls data and reports that European Union finance officials were looking at a bank recapitalization plan.
The upbeat sentiment carried over to the Asian trading session, with shares in the financial sector leading gains.
In Japan, shares in Nomura Holdings jumped 3.8%, while Daiwa Securities Group saw shares rally 4.25%.
Japanese exporters performed strongly, with consumer electronics giant Sony climbing 4.7%, rival Sharp was up 3.4%, while automakers Nissan and Honda advanced 4.25% and 1.6% respectively.
Shares in Japan’s second largest retailer Aeon surged 5.1% after raising its full-year earnings outlook above market expectations.
In Hong Kong, shares in property developers led gains amid speculation China may loosen monetary policy to prevent a “hard landing” in the property market.
Hong Kong’s largest property developer Sino Land Company saw shares soar 9.8%, the third largest property developer Hang Lung Properties gained 7.8%, while property investment firms China Overseas Land & Investment rallied 15.6%.
Shares in the financial sector also contributed to gains, with the nation’s largest lender Industrial and Commercial Bank of China surging 9.7%, China Construction Bank shares advanced 6.1%, while insurance firm Ping An climbed 9.4%.
Elsewhere, European stock markets were broadly higher ahead of the European Central Bank’s interest rate announcement. The EURO STOXX 50 rose 1.3%, France’s CAC 40 advanced 1.7%, the FTSE 100 climbed 1.1%, while Germany's DAX gained 1.45%.
Later in the day, ECB President Jean-Claude Trichet was to discuss the bank’s rate decision at a closely watched press conference. Meanwhile, the U.S. was to release its weekly report on initial jobless claims.