Asian stock markets are mostly higher on Thursday following the overnight rally on Wall Street as new U.S. economic data added to investor optimism about a quick recovery from the coronavirus pandemic. Hopes of more stimulus measures also lifted stocks. The European Central Bank's policy decision is due later today. Economists expect the ECB to boost the pandemic emergency purchase program.
Stocks moved sharply higher over the course of the trading session on Wednesday, extending the upward trend seen in recent sessions. The rally lifted the Dow and the S&P 500 three-month closing highs, while the tech-heavy Nasdaq continued to close in on the record highs set in February.
After moving sharply higher earlier in the session, stocks continue to see considerable strength in mid-day trading on Wednesday. The advance on the day extends the upward trend seen over the past several sessions.