Japan's Nikkei 225 was up 1.5% with Australia's S&P/ASX 200 up 0.8%, South Korea's Kospi Composite 1.7% higher and Hong Kong's Hang Seng Index up 1.5%. China's Shanghai Composite Index though was 0.9% lower after its recent gains.
Industrial Average futures were up 16 points in screen trade.
Investors are betting "the global economy will enter a 'Goldilocks' period of growth, being not too hot for central bank hikes and not too cold to revive deflation fears," said analysts at UBS.
"The flow of macro data doesn't seem likely to sour soon, policy stimulus remains in place, production should continue to recover from last year's depressed levels, and final demand in the global economy may start to rise again," they said.
Still, the news was not all good. Data showed Japanese core machinery orders fell 9.3% on-month in July, in another sign Japanese firms are still trimming investment. The fall was worse than the 3.6% drop expected on average by economists surveyed by Dow Jones Newswires and the Nikkei, and was the lowest level for orders on record.
And in Australia, the economy shed 27,100 jobs in August, compared with economists' expectations for a 15,000 drop.
Bank stocks were mostly higher across Asia after the sector had found some sellers in recent days. In Japan, Mitsubishi UFJ FG gained 3.2% and Mizuho Financial added 3.0%, with Korea's Woori Finance up 2.3%, Hong Kong's HSBC up 1.4% and Singapore's DBS 1.1% higher.
Taiwan financial stocks gained after the Economic Daily News quoted an unnamed senior finance official as saying Taiwan and China have resolved most of the issues hindering the signing of a memorandum of understanding on financial sector cooperation. Fubon Financial added 5.4%, while Cathay Financial rose 3.5%. In Hong Kong, Fubon Bank advanced 5.6%. Taiwan's overall index added 0.8%.
Semiconductor plays advanced around the region after Texas Instruments raised its third-quarter outlook, further evidence the semiconductor market is brighter after several quarters of dropping demand. In Japan, Tokyo Electron gained 1.4%, with Taiwan's TSMC up 1.3% and Korea's Hynix Semiconductor adding 1.0%.
In Japan, Kirin Holdings gained 2.1%. Suntory Holdings confirmed it was in talks to buy Orangina SAS, maker of the famed soft drink; Suntory itself is in parallel merger talks with Kirin Holdings.
Gold stocks underperformed after a recent run, with Australia's Newcrest down 1.6% and Lihir Gold shedding 3.9%. Zijin Mining's Hong Kong shares shed 0.8%, while its mainland listing lost 2.4%.
Brokerage shares fell back in China, with Guoyuan Securities off 2.1%.
Still, the market decline was expected to be limited before early October's 60th anniversary of the founding of the People's Republic of China. "The stock market may resume gains if the August economic data (due Friday) surprise on the upside," added Qian Qimin at Shenyin Wanguo Securities.
Genting Singapore fell 5.9% on the resumption of trade after Wednesday's news of its S$1.63 billion rights issue.
Elsewhere, New Zealand's NZX-50 was up 0.3% with Singapore's Straits Times Index rising 1.4%, Malaysian shares up 1.1%, Indonesian shares 0.8% higher, Philippine shares 0.1% higher and Thai shares up 1.1%.
Currency markets were quiet after the U.S. dollar fell against the euro in New York. The euro was at $1.4562, from $1.4551 late in New York, and at Y134.04, from Y133.90, with the U.S. dollar at Y92.02, from Y92.08.
The New Zealand dollar was volatile after the country's central bank kept interest rates at a record low 2.50% and largely retained its easing bias. Many in the market though think the central bank will have to move to a more neutral stance before long, analysts said.
The currency was recently at US$0.6960, though off a high of US$0.6994.
Lead September Japanese government bond futures slipped 0.02 to 139.24 points. Analysts said there was some caution before an auction of 20-year JGBs on Tuesday.
October Nymex crude oil futures were 52 cents higher at $71.83 a barrel on Globex, after weekly U.S. oil inventory data from the American Petroleum Institute showed a drop of 7.2 million barrels in oil stocks, more than the 1.5 million barrel fall expected by analysts surveyed by Dow Jones Newswires.
Earlier, the Organization of Petroleum Exporting Countries agreed, as expected, to keep oil-production quotas unchanged.
Spot gold was 20 cents higher from New York, at $992.60 a troy ounce, with much debate on whether the yellow metal can retake - and hold - the $1,000 mark. LME three-month copper fell $25 from London levels, to $6,390 a metric ton.
Investors are betting "the global economy will enter a 'Goldilocks' period of growth, being not too hot for central bank hikes and not too cold to revive deflation fears," said analysts at UBS.
"The flow of macro data doesn't seem likely to sour soon, policy stimulus remains in place, production should continue to recover from last year's depressed levels, and final demand in the global economy may start to rise again," they said.
Still, the news was not all good. Data showed Japanese core machinery orders fell 9.3% on-month in July, in another sign Japanese firms are still trimming investment. The fall was worse than the 3.6% drop expected on average by economists surveyed by Dow Jones Newswires and the Nikkei, and was the lowest level for orders on record.
And in Australia, the economy shed 27,100 jobs in August, compared with economists' expectations for a 15,000 drop.
Bank stocks were mostly higher across Asia after the sector had found some sellers in recent days. In Japan, Mitsubishi UFJ FG gained 3.2% and Mizuho Financial added 3.0%, with Korea's Woori Finance up 2.3%, Hong Kong's HSBC up 1.4% and Singapore's DBS 1.1% higher.
Taiwan financial stocks gained after the Economic Daily News quoted an unnamed senior finance official as saying Taiwan and China have resolved most of the issues hindering the signing of a memorandum of understanding on financial sector cooperation. Fubon Financial added 5.4%, while Cathay Financial rose 3.5%. In Hong Kong, Fubon Bank advanced 5.6%. Taiwan's overall index added 0.8%.
Semiconductor plays advanced around the region after Texas Instruments raised its third-quarter outlook, further evidence the semiconductor market is brighter after several quarters of dropping demand. In Japan, Tokyo Electron gained 1.4%, with Taiwan's TSMC up 1.3% and Korea's Hynix Semiconductor adding 1.0%.
In Japan, Kirin Holdings gained 2.1%. Suntory Holdings confirmed it was in talks to buy Orangina SAS, maker of the famed soft drink; Suntory itself is in parallel merger talks with Kirin Holdings.
Gold stocks underperformed after a recent run, with Australia's Newcrest down 1.6% and Lihir Gold shedding 3.9%. Zijin Mining's Hong Kong shares shed 0.8%, while its mainland listing lost 2.4%.
Brokerage shares fell back in China, with Guoyuan Securities off 2.1%.
Still, the market decline was expected to be limited before early October's 60th anniversary of the founding of the People's Republic of China. "The stock market may resume gains if the August economic data (due Friday) surprise on the upside," added Qian Qimin at Shenyin Wanguo Securities.
Genting Singapore fell 5.9% on the resumption of trade after Wednesday's news of its S$1.63 billion rights issue.
Elsewhere, New Zealand's NZX-50 was up 0.3% with Singapore's Straits Times Index rising 1.4%, Malaysian shares up 1.1%, Indonesian shares 0.8% higher, Philippine shares 0.1% higher and Thai shares up 1.1%.
Currency markets were quiet after the U.S. dollar fell against the euro in New York. The euro was at $1.4562, from $1.4551 late in New York, and at Y134.04, from Y133.90, with the U.S. dollar at Y92.02, from Y92.08.
The New Zealand dollar was volatile after the country's central bank kept interest rates at a record low 2.50% and largely retained its easing bias. Many in the market though think the central bank will have to move to a more neutral stance before long, analysts said.
The currency was recently at US$0.6960, though off a high of US$0.6994.
Lead September Japanese government bond futures slipped 0.02 to 139.24 points. Analysts said there was some caution before an auction of 20-year JGBs on Tuesday.
October Nymex crude oil futures were 52 cents higher at $71.83 a barrel on Globex, after weekly U.S. oil inventory data from the American Petroleum Institute showed a drop of 7.2 million barrels in oil stocks, more than the 1.5 million barrel fall expected by analysts surveyed by Dow Jones Newswires.
Earlier, the Organization of Petroleum Exporting Countries agreed, as expected, to keep oil-production quotas unchanged.
Spot gold was 20 cents higher from New York, at $992.60 a troy ounce, with much debate on whether the yellow metal can retake - and hold - the $1,000 mark. LME three-month copper fell $25 from London levels, to $6,390 a metric ton.
