HONG KONG – Asian stocks climbed Thursday following gains on Wall Street that were driven by positive manufacturing data and hopes that the Federal Reserve may to unveil another round of stimulus.
Oil rose above $89 a barrel while the dollar strengthened against the euro and the yen.
Japan’s benchmark Nikkei 225 advanced 1.4 percent to 9,077.33 while Hong Kong’s Hang Seng rose 1.4 percent to 20,831.65.
South Korea’s Kospi gained 2 percent to 1,916.82 and Australia’s SP/ASX 200 rose 0.7 percent to 4,325.50. Benchmarks in Taiwan and Singapore also gained.
Asian stocks took their lead from gains in the U.S. following a surge in factory orders, which investors took as a sign that the manufacturing industry is still healthy. Some investors are also holding out hope the Federal Reserve may announce a third round of government bond purchases — known as quantitative easing III or QE3 — to support the economy because of
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