Investing.com - Asian shares gained on Thursday with investors looking ahead to U.S. non farm payrolls at the end of the week to assess prospects for an end of the year rate hike by the Fed.
The S&P/ASX 200 rose 0.39% while the Nikkei 225 gained 0.57%. Markets in China are shut for a week-long holiday.
Australia reported a trade balance for August with a deficit of A$2.01 billion, narrower than the A$2.3 billion seen. Investors also took note of remarks from Fed Vice Chairman Stanley Fischer on the impact of neutral rates on economic growth.
Markets are currently pricing in around a 14.5% chance of a rate hike in November, according to Investing.com's Fed Rate Monitor Tool. For December's meeting, odds were at nearly 59.3%.
U.S. stocks were higher after the close on Wednesday, as gains in the Oil & Gas, Basic Materials and Financials sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 0.62%, while the S&P 500 index added 0.43%, and the NASDAQ Composite index gained 0.50%.
The ADP nonfarm employment showed a gain of 154,000 jobs, less than the 166,000 seen, setting up the focus on official nonfarm payrolls from the U.S. Department of Labor on Friday.
The Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 57.1 last month from 51.4 in August. Analysts had expected the index to increase to 53.0.
As well, the value of new factory orders rose an unexpected 0.2% in August, compared to a decline forecasted as nondurables orders rose 0.2% and durable goods orders were revised up to a 0.1% increase, the U.S. Commerce Department said.