Investing.com - Asian stock markets rose in early Thursday trading, buoyed on reports that the International Monetary Fund is seeking to boost its lending capacity by $500 billion to help fight the European debt crisis.
The news, coupled with hopes Greece is close to working out a restructuring deal with its private creditors, rekindled optimism that even though there is no end in sight to the European debt crisis, there is hope such an end might appear on the horizon soon.
During early Asian trading on Thursday, Hong Kong's Hang Seng Index was up 1.10%, Australia's S&P/ASX200 was up 0.31%, while Japan’s Nikkei 225 Index was up 1.25%.
Firming economic indicators in the U.S. in recent months are further fueling Asian stock-market optimism that even if Europe's fate remains unclear, the U.S. seems to be moving ahead on its own toward recovery.
"We see an improvement not only in manufacturing and labor data, but also in the sluggish housing market, boosting confidence for the U.S. economic outlook," said Mitsushige Akino, who oversees about $600 million in Tokyo at Ichiyoshi Investment Management, according to Bloomberg.
"It's good that the IMF is also enhancing the safety net for European financial firms."
Furthermore, hopes that China has cooled its economy to a more comfortable pace while avoiding a hard landing continue to build, which further boosted equities prices Thursday.
Hong Kong's leading gainers included Ping An, up 5.44%, CHALCO, up 3.95%, and Hang Lung Prop, up 3.31%.
In Australia, the top gainers included OneSteel, up 7.32%, Linc Energy, up 7.04%, and Linas Corpo, up 6.60%.
European stock futures indicated gains later Thursday.
France's CAC 40 futures pointed to a gain of 0.15%, while Germany ’s DAX 30 futures signaled a gain of 0.17%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.12%.
Dow Jones Industrial Average futures were up 0.09% while the S&P 500 futures were also up 0.09% as well.
Investors were awaiting U.S. inflation data, initial jobless claims as well as numbers on housing starts and building permits later Thursday, while the Philadelphia Federal Reserve Manufacturing Index will come out as well.
The European Central Bank will release a report on current account data followed by its monthly bulletin.
Japan will release its All Industries Activity Index later Thursday as well.
The news, coupled with hopes Greece is close to working out a restructuring deal with its private creditors, rekindled optimism that even though there is no end in sight to the European debt crisis, there is hope such an end might appear on the horizon soon.
During early Asian trading on Thursday, Hong Kong's Hang Seng Index was up 1.10%, Australia's S&P/ASX200 was up 0.31%, while Japan’s Nikkei 225 Index was up 1.25%.
Firming economic indicators in the U.S. in recent months are further fueling Asian stock-market optimism that even if Europe's fate remains unclear, the U.S. seems to be moving ahead on its own toward recovery.
"We see an improvement not only in manufacturing and labor data, but also in the sluggish housing market, boosting confidence for the U.S. economic outlook," said Mitsushige Akino, who oversees about $600 million in Tokyo at Ichiyoshi Investment Management, according to Bloomberg.
"It's good that the IMF is also enhancing the safety net for European financial firms."
Furthermore, hopes that China has cooled its economy to a more comfortable pace while avoiding a hard landing continue to build, which further boosted equities prices Thursday.
Hong Kong's leading gainers included Ping An, up 5.44%, CHALCO, up 3.95%, and Hang Lung Prop, up 3.31%.
In Australia, the top gainers included OneSteel, up 7.32%, Linc Energy, up 7.04%, and Linas Corpo, up 6.60%.
European stock futures indicated gains later Thursday.
France's CAC 40 futures pointed to a gain of 0.15%, while Germany ’s DAX 30 futures signaled a gain of 0.17%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.12%.
Dow Jones Industrial Average futures were up 0.09% while the S&P 500 futures were also up 0.09% as well.
Investors were awaiting U.S. inflation data, initial jobless claims as well as numbers on housing starts and building permits later Thursday, while the Philadelphia Federal Reserve Manufacturing Index will come out as well.
The European Central Bank will release a report on current account data followed by its monthly bulletin.
Japan will release its All Industries Activity Index later Thursday as well.