SINGAPORE (AP) — Asian stocks extended a global rally Thursday amid investor optimism that the U.S. economy may grow more than previously expected this year.
Benchmark oil stayed below $98 per barrel while the dollar was lower against the euro but steady against the yen.
Tokyo’s Nikkei 225 rose 0.7 percent to 8,875.21 while Hong Kong’s Hang Seng gained 1.5 percent to 20,629.68 and Seoul’s Kospi added 1.1 percent to 1,980.90.
Signs of an improving U.S. economy have helped bolster trader sentiment. Factories raised output in January by the most in seven months, according to the Institute for Supply Management’s manufacturing index on Wednesday. And the Commerce Department said construction spending rose 1.5 percent in December, the fifth straight monthly gain.
Investors have also been cheered by growing optimism that
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