Asian equities followed Wall Street higher on Thursday thanks to strong earnings and improving European data. U.S. mini futures fell following the news that a New York doctor tested positive for the Ebola virus.
U.S. stocks surged on the last trading day of the week, with all three major indices climbing over 1 percent each, following strong third-quarter results from Caterpillar, 3M and General Motors.
Meanwhile, the flash composite purchasing managers index (PMI) for the euro zone rose to 52.2 in October, from 52 in September, which helped to ease some of the global growth concerns that have plagued markets recently.
Asian stocks rose, with the regional benchmark index extending its first weekly gain in seven weeks, after U.S. earnings beat estimates and data signaled stronger European growth.
The MSCI Asia Pacific Index advanced 0.5 percent to 137.72 as of 9:01 a.m. in Tokyo. The measure is heading for a 3 percent weekly advance after entering a correction last week.
Japan’s Topix index rose 1.3 percent, set for the steepest weekly gain since April 2013, after the yen slumped 1 percent yesterday against the dollar. South Korea’s Kospi index and Australia’s S&P/ASX 200 Index added 0.6 percent, while New Zealand’s NZX 50 Index advanced 0.9 percent.