Investing.com - Asian stocks rose on Thursday after solid U.S. data and service-sector reports published in the U.S., a key Asian export market.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was up 0.14%, Australia's S&P/ASX200 was up 0.27%, while Japan’s Nikkei 225 Index was up 1.01%.
Surprising U.S. employment data sparked demand for stocks in Asia.
Payroll processing firm ADP reported earlier that the U.S. private sector added a seasonally adjusted 162,000 jobs in September, surpassing expectations for an increase of 143,000.
The August figure was revised down to a gain of 189,000 from a previously reported increase of 201,000.
The U.S. Department of Labor will release its official September jobs report on Friday, and the ADP numbers boosted expectations the labor market may show signs of improvement.
Also in the U.S., the Institute of Supply Management revealed that its services purchasing managers' index rose to 55.1 in September from a reading of 53.7 in August.
Analysts had expected the index to dip to 53.2 in September.
Meanwhile in the eurozone, retail sales surprised in the upside in August and sparked demand for stocks in Asia.
In a report, Eurostat said retail sales rose by a seasonally adjusted 0.1% in August, compared to expectations for a 0.1% decline.
Retail sales for July were revised up to a 0.1% gain from a previously reported drop of 0.2%.
Year-over-year retail eurozone sales fell at an annualized rate of 1.3% in August, compared to expectations for a 1.9% decline, after falling at a revised rate of 1.4% in July.
Talk that the Bank of Japan may bolster a monetary stimulus program later this week boosted stock prices as well.
In Hong Kong, top gainers included Esprit Holdings, up 4.00%, New World Development, up 2.55%, and HSBC Holdings, up 1.63%.
In Australia, top gainers included Discovery Metals, up 6.99%, Bluescope Steel, up 5.75%, and Whitehaven Coal, up 5.76%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.56%, while Germany's DAX 30 futures pointed to a gain of 0.59%. Meanwhile in the U.K., FTSE 100 futures were up 0.31%.
Dow Jones Industrial Average futures pointed to a gain of 0.42% while the S&P 500 futures were up 0.46%.
Later Thursday, the U.S. is to release weekly government data on unemployment claims, as well as official data on factory orders. Later in the day, the Federal Reserve is to produce the minutes of its September policy meeting.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was up 0.14%, Australia's S&P/ASX200 was up 0.27%, while Japan’s Nikkei 225 Index was up 1.01%.
Surprising U.S. employment data sparked demand for stocks in Asia.
Payroll processing firm ADP reported earlier that the U.S. private sector added a seasonally adjusted 162,000 jobs in September, surpassing expectations for an increase of 143,000.
The August figure was revised down to a gain of 189,000 from a previously reported increase of 201,000.
The U.S. Department of Labor will release its official September jobs report on Friday, and the ADP numbers boosted expectations the labor market may show signs of improvement.
Also in the U.S., the Institute of Supply Management revealed that its services purchasing managers' index rose to 55.1 in September from a reading of 53.7 in August.
Analysts had expected the index to dip to 53.2 in September.
Meanwhile in the eurozone, retail sales surprised in the upside in August and sparked demand for stocks in Asia.
In a report, Eurostat said retail sales rose by a seasonally adjusted 0.1% in August, compared to expectations for a 0.1% decline.
Retail sales for July were revised up to a 0.1% gain from a previously reported drop of 0.2%.
Year-over-year retail eurozone sales fell at an annualized rate of 1.3% in August, compared to expectations for a 1.9% decline, after falling at a revised rate of 1.4% in July.
Talk that the Bank of Japan may bolster a monetary stimulus program later this week boosted stock prices as well.
In Hong Kong, top gainers included Esprit Holdings, up 4.00%, New World Development, up 2.55%, and HSBC Holdings, up 1.63%.
In Australia, top gainers included Discovery Metals, up 6.99%, Bluescope Steel, up 5.75%, and Whitehaven Coal, up 5.76%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.56%, while Germany's DAX 30 futures pointed to a gain of 0.59%. Meanwhile in the U.K., FTSE 100 futures were up 0.31%.
Dow Jones Industrial Average futures pointed to a gain of 0.42% while the S&P 500 futures were up 0.46%.
Later Thursday, the U.S. is to release weekly government data on unemployment claims, as well as official data on factory orders. Later in the day, the Federal Reserve is to produce the minutes of its September policy meeting.