Asia Markets Report

The markets across Asia ended the trading session on Thursday in positive territory, taking cues from Wall Street where the major averages registered modest gains, offsetting some of the losses sustained in the previous trading sessions as concerns about the debt crisis in EU region showed signs of easing. Positive earnings results and optimism that the global economic recovery might not be affected also lifted market sentiment with almost all stocks gaining on bargain hunting.

In Japan, the benchmark Nikkei 225 Index rose 226.52 points, or 2.2%, to 10,620.55, while thebroader Topix index of all the First Section issues also rose 15.07 points, or 1.6%, to 948.

On the economic front, a report released by the Ministry of Finance revealed that the country posted a balance of payment trade surplus of 1.0747 trillion yen in March, surging a record 745.4 % on year. Imports jumped 22.0% on year to 4.6313 trillion yen, while exports climbed an annual 45.4% to 5.7061 trillion yen. Goods and services surged 606.8% on year to 1.0891 trillion yen. The report further noted that the current account also saw a surplus of 2.534 trillion yen - rising 65.1% on year and beating forecasts for a surplus of 2.212 trillion yen after coming in at 1.47 trillion yen in February. The adjusted current account surplus was 1.773 trillion yen.

As many as 31 sectors of the 33 sectors in the index posted gains during the session as traders preferred to do bargain hunting across the stocks that declined sharply following previous week's decline.

In Australia, the benchmark S&P/ASX200 Index surged up 79.80 points, or 1.75% to 4,653, while the All-Ordinaries Index ended at 4,680, representing a gain of 79.80 points, or 1.73%.

On economic front, a report released by the Australian Bureau of Statistics revealed that unemployment rate remained unchanged in April compared to March. As per the report, the unemployment rate stood at a seasonally adjusted 5.4% in April, higher than forecasts for a rate of 5.3%. The March unemployment rate was also revised up to 5.4% from 5.3%.

Light sweet crude oil futures for June delivery ended at $75.72 a barrel in electronic trading, up $0.07 per barrel from previous close at $75.65 a barrel in New York on Wednesday.

Banks ended in positive territory. ANZ Bank gained 2.42%, Commonwealth Bank of Australiaadvanced 1.18%, National Australia Bank rose 1.88% and Westpac Banking climbed 1.69%.Investment banker Macquarie Group surged up 4.43%.

Gold stocks continued to march northwards on higher bullion prices. Lihir Gold rose 1.72% andNewcrest Mining climbed 2.24%.

Retailers also advanced on optimism about economic growth. David Jones advanced 1.36%, Harvey Norman climbed 3.28%, JB Hi-Fi Ltd gained 1.45%, Myer Holdings added 1.31%, Reject Shoprose 1.64%, Wesfarmers was up 1.05% and Woolworths increased by 1.14%.

Mining and metal stocks also ended in positive territory. BHP Billiton gained 1.78%, Fortescue Metals surged up 3.57%, Gindalbie Metals remained unchanged from previous close, Macarthur Coal advanced 1.84%, Murchison Metals climbed 5.21%, Oz Minerals added 0.47% and Rio Tinto increased by 1.89%.

In Hong Kong, the benchmark Hang Sang Index surged up 209.97 points, or 1.04%, and closed at 20,422, taking cues from Wall Street where the major averages ended in positive territory with modest gains, offsetting some of the losses in the past week, on increasing optimism that the EU crisis is showing signs of easing. Positive closing across other markets in the region, including main land China, lifted market sentiment as traders went bargain hunting at lower levels.

Strong global cues amid easing worries about Europe's debt crisis helped the Indian market end higher for a second straight session on Thursday. However, fluctuating U.S. stock futures dampened sentiment to some extent. After rising by about 200 points at mid-session, the 30-share Sensex average pared some of its gain before finishing at 17,266, up 70 points or 0.41%, while the 50-share Nifty ended up 22 points or 0.43% at 5,179.

Among the other major markets open for trading, China's Shanghai Composite Index gained 54.79 points, or 2.06%, to close at 2,711, and Taiwan's Weighted Index surged up 167.87 points, or 2.21%, to 7,771. However, Singapore's Strait Times Index bucked the trend and ended in negative territory with a loss of 13.07 points, or 0.45%, to close at 2,867