(MENAFN- FxPro) Aaian shares gained on Thursday as investors welcome a string of moves by China to ease policy adn pump up liquidity.
The Nikkei 225 rose 1.89%, while the Shanghai Composite gained 1.43%. The S&P/ASX 200 rose 1.40% and the Hang Seng index increased 2.48%.
In Asia, Bank of Japan Governor Haruhiko Kuroda is counting on a tight labor supply to raise consumer inflation toward the bank's target of 2% from zero, and Chinese policy actions to support Japan's sluggish exports, he said in a speech in New York late Wednesday.
But he repeated his mantra that the BOJ will "examine both upside and downside risks" to the economy and "make adjustments" as appropriate.
"The Bank of Japan will contribute to raising the growth potential of Japan's economy by achieving the price stability target of 2% at the earliest possible time through QQE (quantitative and qualitative monetary easing) and dispelling the deflationary mindset that has taken hold of Japan," he said.
Earlier, in Australia, second quarter private new capex data fell 4.0%, more than the 2.5% decline seen.
Overnight, U.S. stocks were higher after the close on Wednesday, as gains in the Technology, Healthcare and Consumer Services sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average rose 3.95%, while the S&P 500 index gained 3.90%, and the NASDAQ Composite index climbed 4.24%.
Expectations for a U.S. rate hike were revived after data on Wednesday showed that core capital goods orders, a closely watched proxy for business spending, rose 2.2% last month, the biggest increase since June last year.
Total durable goods orders increased 2.0% last month, compared to expectations for a decline of 0.4%.
Market sentiment had received a boost earlier in the day after China's central bank injected 140 billion yuan into the money market to avoid a liquidity crunch.
The People's Bank of China announced plans for cheap loans to lenders, who have suffered after an increase in capital outflows following the devaluation of the yuan earlier this month.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.