Japan's Nikkei Stock Average rose 0.8%, Australia's S&P/ASX 200 gained 0.6%, South Korea's Kospi Composite climbed 1.0% and New Zealand's NZX-50 tacked on 0.7%.
Dow Jones Industrial Average futures were down two points in screen trade.
Regional sentiment took cues from Thursday's positive news of a German Federal Constitutional Court ruling that the nation was not in breach of law by participating in the bailouts of Greece, Ireland and Portugal.
"The move might suggest that Germany may participate more actively in peripheral bailouts," said St George Economics in a report to clients.
News that Italy's Senate had given the go-ahead for an austerity package of more than €50 billion in fiscal savings and additional tax revenue also added to the upbeat sentiment.
In Japan, semiconductor stocks were among the best-performers after Intel's chief financial officer said the company's third quarter was tracking in-line with previous projections, despite the recent market volatility.
Tokyo Electron rose 2.8%, while Advantest added 1.1%.
The Bank of Korea left its policy rate steady at 3.25% for the third straight month, as expected, due to the heightened global uncertainty. Major stocks were up in Seoul, with Samsung Electronics adding 1.5%.
Regional energy plays were boosted by crude oil's gains, with Oil Search up 3.5% in Sydney, Inpex 3.3% higher in Tokyo and SK Innovation rising 1.3% in Seoul.
Oil prices climbed above $90 per barrel for the first time since early August in Asia trade after a report from the American Petroleum Institute showed a larger-than-expected fall in U.S. oil stocks last week. October Nymex crude oil futures were recently 39 cents higher at $89.73 per barrel on Globex, after touching an intraday high of $90.11 earlier.
The euro was trading in range against the dollar after rebounding on Wednesday from seven-week lows around $1.3997, as markets responded positively to the news out of Germany and Italy.
The single currency was recently at $1.4070 from $1.4098 late on Wednesday in New York. The dollar was at ¥77.33 from ¥77.26, while the euro was at ¥108.79 from ¥108.86.
Investors will likely turn their attention to U.S. President Barack Obama's jobs speech later in the global day, with the focus on measures to boost jobs and reduce unemployment. Credit Agricole said a speech from Federal Reserve Chairman Ben Bernanke later in the day will also focus markets for "any clues to whether he is inclined to inject further stimulus into the U.S. economy."
Lead September Japanese government bond futures were down 0.12 at 142.66 points on the Nikkei's gains. Spot gold was at $1,836.30 a troy ounce, up $19 from New York on Wednesday.
No comments:
Post a Comment