Investing.com - Asian stocks rose on Thursday after China cut credit requirements for rural banks as well as on lackluster but stable housing data out of the U.S.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was up 0.49%, Australia's S&P/ASX200 was up 0.63%, while Japan’s Nikkei 225 Index was up 0.36%.
Concerns have arisen over whether China's economy will cool the pace of its growth, although an announcement on Thursday that the country would cut reserve requirements for rural banks brought out buyers in equities markets across Asia.
In the U.S., the National Association of Realtors reported that total existing home sales slipped 0.9% to a seasonally adjusted annual rate of 4.59 million in February, up from an upwardly revised 4.63 million in January.
The numbers came in a little weaker than expected but were firm enough to buoy spirits in Asian trading on Thursday.
A surprise Japanese trade surplus of JPY32.9 trillion for February also boosted prices.
Meanwhile, a wait-and-see pattern took hold of many investors, who opted to remain on the sidelines ahead of manufacturing reports due out of the Europe and weekly jobless claims and earnings reports out of the U.S.
In Hong Kong, top gainers included Tencent, up 2.12%, Sinopec, up 1.74%, and Hengan International, up 1.52%.
In Australia, the top gainers included Sigma Pharmaceuticals, up 5.69%, White Energy, up 4.69%, and Investa Office, up 4.24%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.49%, while Germany's DAX 30 futures signaled a gain of 0.26%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.25%.
Dow Jones Industrial Average futures were up 0.18% while the S&P 500 futures were up 0.21%.
Economic indicators in the U.S. and Europe will guide markets later.
The eurozone on Thursday is to release preliminary data on manufacturing and service sector activity, leading indicators of economic health, while later ECB President Mario Draghi is to speak.
The U.S. is to publish official data on initial jobless claims, a leading indicator of economic health.
Also Thursday, Fed Chairman Ben Bernanke is to speak at an event in Washington; his comments will be closely watched for possible indications on the future direction of monetary policy.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was up 0.49%, Australia's S&P/ASX200 was up 0.63%, while Japan’s Nikkei 225 Index was up 0.36%.
Concerns have arisen over whether China's economy will cool the pace of its growth, although an announcement on Thursday that the country would cut reserve requirements for rural banks brought out buyers in equities markets across Asia.
In the U.S., the National Association of Realtors reported that total existing home sales slipped 0.9% to a seasonally adjusted annual rate of 4.59 million in February, up from an upwardly revised 4.63 million in January.
The numbers came in a little weaker than expected but were firm enough to buoy spirits in Asian trading on Thursday.
A surprise Japanese trade surplus of JPY32.9 trillion for February also boosted prices.
Meanwhile, a wait-and-see pattern took hold of many investors, who opted to remain on the sidelines ahead of manufacturing reports due out of the Europe and weekly jobless claims and earnings reports out of the U.S.
In Hong Kong, top gainers included Tencent, up 2.12%, Sinopec, up 1.74%, and Hengan International, up 1.52%.
In Australia, the top gainers included Sigma Pharmaceuticals, up 5.69%, White Energy, up 4.69%, and Investa Office, up 4.24%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.49%, while Germany's DAX 30 futures signaled a gain of 0.26%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.25%.
Dow Jones Industrial Average futures were up 0.18% while the S&P 500 futures were up 0.21%.
Economic indicators in the U.S. and Europe will guide markets later.
The eurozone on Thursday is to release preliminary data on manufacturing and service sector activity, leading indicators of economic health, while later ECB President Mario Draghi is to speak.
The U.S. is to publish official data on initial jobless claims, a leading indicator of economic health.
Also Thursday, Fed Chairman Ben Bernanke is to speak at an event in Washington; his comments will be closely watched for possible indications on the future direction of monetary policy.