Asian stocks extend rally, Nikkei jumps +1.50%

Asian stocks extend gains for the second straight session on Thursday, hovering near three-month tops, tracking strong gains on the Wall Street overnight, especially after the Dow closed above 20k mark for the first time on record.

Moreover, the region’s indices were boosted by Trump’s reflation trades on renewed hopes that US President Trump will unleash growth-friendly spending policies. Trump is on track to fulfill his campaign promises so far, with talks over a National border and clearing the path for two major oil companies.

The Japanese stock advanced more-than 1% for the second-day in a row, led by a rally in financial sector stocks, as yen remains on the back foot across the board in Asia today. While Chinese equities peek into the green zone amid slowing volumes, as investors unwind trades ahead of the Lunar New Year holiday-break.

Markets in China, South Korea, Taiwan, and Vietnam will be closed on Friday, with China closed through next Thursday.

The Japanese benchmark, the Nikkei 225 index rallies +1.59% to 19,361. The Australian benchmark, ASX 200 index rises 0.38% to 5,670 points. Mainland Chinese markets trade modestly higher, with both Shanghai composite and Shenzhen’s CSI 300 index gaining +0.03% and +0.23% respectively. Hong Kong's Hang Seng jumps +1.39% to 23,366.