TOKYO (dpa-AFX) - The Japanese stock market has finished higher in back-to-back sessions, collecting more than 650 points or 1 percent along the way. The Nikkei 225 now sits just above the 64,130-point plateau and it may add to its winnings again on Friday.
The global forecast for the Asian markets is positive on bargain hunting and easing oil prices and treasury yields. The European and U.S. markets were up and the Asian bourses are expected to follow suit.
The Nikkei finished modestly higher on Thursday following gains from the financial shares, shipping companies and pharmaceuticals.
For the day, the index gained 213.25 points or 0.33 percent to finish at 64,136.25 after trading between 63,824.56 and 64,643.58.
The lead from Wall Street is firm as the major averages opened solidly higher on Thursday and remained in the green throughout the session.
The Dow jumped 316.14 points or 0.61 percent to finish at 51,778.04, while the NASDAQ surged 439.88 points or 1.69 percent to close at 26,089.55 and the S&P 500 rallied 85.95 points or 1.14 percent to end at 7,637.76.
Stocks surged early in the session amid an extended pullback by the price of crude oil after supply-related concerns eased amid Saudi Arabia's efforts to get its vital oil pipeline back in operation. West Texas Intermediate crude for October delivery was down $0.60 or 0.59 percent at $101.83 per barrel.
Treasury yields have moved to the downside along with crude oil prices, with the yield on the benchmark ten-year note slumping after ending the previous session roughly flat.
Traders shrugged off Wednesday's widely expected interest rate hike by the Federal Reserve, even though projections point to at least one more rate hike before the end of the year.
In U.S. economic news, the Labor Department showed an unexpected decline in first-time claims for U.S. unemployment benefits last week.
Closer to home, the Bank of Japan will wrap up its monetary policy meeting this morning and then announce its decision on interest rates; the BoJ is expected to hike its benchmark lending rate by 25 basis points, to 1.25 percent from 1.00 percent.
Japan also will see consumer price data for August; in July, overall inflation was up 0.4 percent on month and 1.9 percent on year, while core CPI was up an annual 1.8 percent.
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