Investing.com - Asian shares gained on Thursday as investors turned showed cautious optimism on prospects for easier global monetary policies to lift growth.
The Nikkei 225 gained 0.76% on continued upbeat sentiment over the prospects of economic stimulus. The S&P/ASX 200 rose 0.33% and the Shanghai Composite posted a rise of 0.49%.
Jobs data in Australia showed the employment change for June gain by 7,900, less than the 10,000 gain seen, though full employment clocked in at 38,400 from 2,500 previously, with a participation rate of 64.9%, a tad more than the 64.8% expected and an unemployment rate that came in at 5.8%, up from 5.7%.
The the rise in full-time jobs, the most since November last year, was a positive. The Reserve Bank of Australia has recently said labor market indicators have been "more mixed of late," a likely reference to the job creation. The latest data may comfort the RBA but its next monetary policy decision is likely to depend more on the inflation and growth outlook for the economy.
Ahead the Bank of England reviews policy with expectations of easing and this week Japan signaled more fiscal stimulus and potential new monetary moves.
Overnight, U.S. stocks were relatively flat on Wednesday, as the Dow Jones Industrial Average and S&P 500 Composite index both pared gains after hitting fresh all-time highs, amid crashing oil prices and a weaker dollar.
The Dow added 24.45 or 0.13% to 18,372.12, posting its fourth straight gain and closing at a record-high for the second straight session. At session-highs, the Dow gained more than 40 points to reach an all-time high of 18,390.16. Since plunging 850 points in the immediate aftermath of last month's Brexit decision, the Dow has rallied approximately 1,200 points or more than 7% over the last three weeks.
The S&P 500 Composite index inched up 0.29 or 0.01% to close at 2,152.43, turning positive in the final minutes of the session. At one point, the S&P 500 rose as high as 2,156.45, hitting an all-time record high for the third straight day. For context, analysts set their year-end target for the S&P 500 at 2,150 at the start of 2016. Despite the mild declines, the S&P 500 is in the midst of its strongest 10-day rally since 2011. Entering Wednesday's session, the S&P also experienced its highest upside volume period for a 10-day period dating back to 2009. Stocks in six of 10 sectors closed in the green, as the Telecom and Utilities sectors led. Stocks in the Energy and Consumer Services industries lagged, each falling more than 0.25%.
Meanwhile, the NASDAQ Composite index closed at 5,005.73, down 17.09 or 0.34% on the day. Previously, the NASDAQ closed higher in nine of 10 sessions bouncing from three-month lows in late-June.