Asian equities rose on Thursday following a rally in global markets overnight amid hopes for additional monetary stimulus in Europe and China.
On Wall Street, the Dow and S&P 500 jumped nearly 1 percent each while European shares rallied after weak economic data fueled hopes for more aggressive stimulus from the European Central Bank. Germany’s widely-watched Ifo business climate index came in below market expectations, with the institute forecasting the German economy would stagnate in the third quarter.
Meanwhile, reports that Chinese President Xi Jinping is considering replacing the head of the central bank also sparked expectations for looser monetary policy.
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