Markets in Asia closed higher on Thursday amid improved investor sentiment after U.S. stocks notched gains in the last session. Oil prices also extended gains after settling close to 3% higher in the last session.
The Nikkei 225 Index gained 32.98 points, or 0.2%, to close Thursday at 22,191.18, with the materials sector contributing to gains. The index pared back some gains in the afternoon after touching a seven-week high earlier. Steel gained 2.4% and non-ferrous metals jumped 2.9%, as the best-performing sectors.
Investors also took a meeting between U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe in their stride after the two leaders pledged to begin trade talks.
In Hong Kong, the Hang Seng index zoomed 424.19 points, or 1.4%, to 30,708.44, with the energy sector jumping 3.7% ahead of the market close as large cap oil producers gained on the back of a surge in oil prices. Materials stocks jumped 4.3% before the market close.
Meanwhile, telecommunications equipment maker ZTE said it would postpone reporting first-quarter earnings, originally due on Thursday, pending a review on the effect a U.S. ban would have on the company, in a filing to the Hong Kong exchange
In Korea, markets leaped amid gains in steelmakers and other manufacturing names. Technology stocks were mixed, with Samsung Electronics, an index heavyweight, up 2.8%
Elsewhere, shares of Korean Air Line fell 2.9% amid headlines that police had raided the company's offices as part of an investigation into Chairman Cho Yang-ho's daughter.
In Australia, materials stocks rose after overnight gains in the metals markets on Russia sanction worries, with mining major Rio Tinto jumping 3.1%.
Among individual movers, miner BHP closed up 2.8% after announcing an 8% increase in third-quarter iron ore production, although it also slightly cut fiscal year 2018 guidance for iron ore.
In other markets
In China, the CSI 300 gained 45.56 points, or 1.2%, to 3,811.84
In Korea, the Kospi picked up 6.12 points, or 0.3%, to 2,468.10
In Singapore, the Straits Times Index grew 40.91 points, or 1.2%, to 3,598.73
In Taiwan, the Taiex Index popped 123.33 points, or 1.1%, to 10,971.22
In New Zealand, the NZD 50 Index inched ahead 3.54 points to 8,373.03
In Australia, the ASX 200 Index added 19.58 points, or 0.3%, to 5,881
