Traders took heart from economic data Thursday that painted a brighter picture of the global economic recovery. In the U.S. the four-week moving average for weekly jobless claims fell to its lowest level in nearly four years, while in Germany the Ifo business index rose to a seven-month high.
Still, higher crude oil prices raised concerns of a hit to growth just when the global economic recovery looks to be gaining some traction. "Rising oil prices are not good for energy-hungry economies," said Justin Harper, strategist at IG Markets in Singapore in a note.
Japan's Nikkei Stock Average added 0.4%, Australia's S&P/ASX 200 gained 0.2%, South Korea's Kospi Composite rose 0.4% and New Zealand's NZX-50 lost 0.3%.
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