Higher In Asia After Crude Retreat

Virtually all Asia-Pac equity indices trade higher on a positive lead from U.S. and European markets, with the largest rallies observed in Japanese and Chinese benchmarks. Energy-related stocks across the region broadly lagged peers, tracking a pullback in major crude benchmarks on Wednesday.

• The Nikkei 225 has added 4.0% at writing, snapping a 4-day streak of losses, and is on track to record its largest daily gain in nearly ~21 months. Virtually all sub-indices within the index trade firmer at writing, with 221 of the 225 constituents recording gains. The largest gains were observed in materials and real estate, while energy and utilities brought up the rear.
• The CSI300 is 1.9% better off at writing, led by gains in richly valued consumer staples and healthcare equities. The index has risen off 20-month lows recorded on Wednesday, coming as several dozen Chinese large-caps were noted to have taken the unusual step of announcing corporate performance this week, ahead of expectations. The move has been broadly interpreted as being meant to “soothe” investor nerves, with state media also observed to have published articles emphasising the strength and stability of the Chinese economy on Thursday.
• U.S. e-mini equity index futures deal 0.2% to 0.3% softer at typing.