Asia markets opened notably higher Thursday, tracking gains in the U.S. where the Dow Jones industrial average closed above 21,000 on the back of President Donald Trump 's speech to lawmakers.
The Nikkei 225 (Nihon Keizai Shinbun: .N225) jumped 1.2 percent in early trade, while the Topix (Exchange: .SPTPXN) gained 1.27 percent. Japanese banks rallied, with Mitsubishi UFJ (Tokyo Stock Exchange: 8306.T-JP) up 2.9 percent, SMFG (Tokyo Stock Exchange: 8316.T-JP) adding 1.89 percent and Mizuho (Tokyo Stock Exchange: 8411.T-JP) gained 1.62 percent.
Exporters also advanced, boosted by a relatively weaker yen, as major automakers posted more than 1 percent gains each — Toyota (Tokyo Stock Exchange: 7203.T-JP) was up 1.19 percent, Nissan (Tokyo Stock Exchange: 7201.T-JP) higher by 1.47 percent and Honda (Tokyo Stock Exchange: 7267.T-JP) adding 1.96 percent.
The yen (: OSEJPY=) traded at 114.09 to the dollar at 8:11 a.m. HK/SIN, weakening from levels below 112.0 reached earlier this week.
Across the Korean Strait, the Kospi (Korea Stock Exchange: .KS11) gained 0.75 percent after South Korean markets were closed Wednesday for a public holiday.
In Australia, the ASX 200 (ASX: .AXJO) was up 1.03 percent in morning trade, with the four major banks gaining more than 1 percent each.
Shares of ANZ (: ANZ'A-AU) rose 1.42 percent, Commonwealth Bank of Australia (: CBA'A-AU) was up 1.04 percent, Westpac (: WBC'B-AU) added 1.27 percent and the National Australia Bank (ASX: NAB'A-AU) gained 1.32 percent.
"The U.S. president's re-iteration of a commitment to a massive infrastructure spend and tax reform inspired gains," said Michael McCarthy, chief market strategist at CMC Markets.
"The U.S. rally is all the more remarkable as interest rate markets responded to Fed speak of a potential lift at the March meeting."
In the currency market, the dollar index (STOXX: .DXY) last traded up at 101.78, climbing from levels near 101.23 earlier.
The Australian dollar (Exchange: AUD=) fell 0.21 percent to $0.7658, while the euro (Unknown: EURBA=) traded at $1.0529.
Oil prices finished a touch lower in the Wednesday session, where U.S. crude fell 0.3 percent to $53.83 a barrel and the global benchmark Brent was down 0.3 percent at $56.36.
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