Asian markets jump after Wall Street rally
Asian markets surged on Thursday, following another rally on Wall Street and ahead of a speech by Fed chief Ben Bernanke that many hope will outline plans to kickstart the ailing US economy.
The more positive mood -- helped by a strong batch of US manufacturing data -- saw safe haven assets fall, with gold tumbling further from its record high above $1,900 and the yen weakening.
Regional firms with links to Apple slipped while its rivals rose after Steve Jobs announced his resignation as chief executive of the US computer giant on Wednesday.
Tokyo closed 1.54 percent, or 132.75 points, higher at 8,772.36. Hong Kong rose 1.47 percent, or 285.69 points, to 19,752.48 while Shanghai soared 2.92 percent, or 74.17 points, to 2,615.26.
On Wednesday the Dow rallied 1.29 percent, the S&P 500 rose 1.31 percent and the Nasdaq added 0.88 percent.
The upbeat sentiment sent the price of gold tumbling further just days after it hit a record high $1,913. The precious metal closed in Hong Kong at $1,738.00-$1,739.00 an ounce, down from $1,850.00-1,851.00 on Wednesday.
On currency markets the yen was slightly down from the previous day's highs.
The dollar rose to 77.07 yen in Tokyo morning trade from 76.97 yen in New York late Wednesday. It had been at 76.64 in Asia Wednesday.
Against the Japanese currency the euro edged up to 111.16 yen from 110.97 in New York Wednesday and 110.49 in Asia.
The euro bought $1.4418, just up from $1.4413 in New York.
In the technology sector Apple-reliant shares were lower after Jobs -- considered the soul of the firm -- said he would resign as the firm's CEO. Shares in the maker of the iPhone and iPad tumbled 5.3 percent in after-hours US trade.
Oil continued to edge back up as rebels and pro-government forces carried on battling it out in the Libyan capital of Tripoli.
Brent North Sea crude for October delivery was 10 cents up at $110.25. The contract had tumbled this week as it looked like the six-month battle for Libya was drawing to a close, which would allow oil to flow again.
New York's main contract, West Texas Intermediate light sweet crude for October delivery fell nine cents to $85.07 a barrel.
In other markets:
Singapore closed 1.69 percent, or 45.84 points, higher at 2,765.74. Bangkok fell 2.05 percent or 21.43 points to 1,025.00. Mumbai 0.85 percent, or 138.65 points, to 16,146.33.