Asian stock markets advanced amid expectations of turnaround; Nikkei gains over 1 percent

Asian markets gain; Tokyo rises amid export data

HONG KONG — Asian stock markets climbed Thursday amid sustained hopes for a recovery in major economies from Japan to the U.S.

Tokyo shares were higher by over 1 percent after news that exports from the world’s second-largest economy fell last month by their smallest margin in six months, adding to evidence that global demand is bouncing back.

Also making the case for an economic turnaround was an Asian Development Bank report saying East Asia’s emerging economies could rebound sharply next year.

“I think people are still optimistic about the stock market’s future and about the economy’s future,” said Francis Lun, general manager of Fulbright Securities Ltd. in Hong Kong. “They have confidence that the economy will improve.”

Japan’s Nikkei 225 stock average gained 114.14, or 1.2 percent, to 9,837.30. In Hong Kong, the Hang Seng jumped 448.80, or 2.3 percent, to 19,696.97.

South Korea’s Kospi was up 0.4 percent, India’s Sensex advanced 1.9 percent and mainland China’s Shanghai index added 0.7 percent.

In New York Wednesday, investors were reluctant to commit more money to a market that’s surged over the last week, and the major benchmarks finished lower.

A mixed picture on the earnings front, with Apple and Starbucks rising on their results but Wells Fargo & Co. and Morgan Stanley falling on theirs, left investors without clear guidance following a string of upbeat reports last week.

The Dow fell 34.68, or 0.4 percent, to 8,881.26, and the broader S&P 500 index slipped 0.51, or 0.1 percent, to 954.07.

The Nasdaq rose 10.18, or 0.5 percent, to 1,926.38, helped by Apple and Starbucks. It was the 11th straight gain for the Nasdaq.

U.S. futures suggested a stronger open on Wall Street Thursday. S&P futures rose 4.1, or 0.4 percent, to 953.50.

Oil prices recovered in Asia trade, with benchmark crude for September delivery up 22 cents at $65.62. The contract lost 21 cents overnight.

The dollar rose to 94.21 yen from 93.58 yen. The euro was higher at $1.4245 from $1.4202.