HONG KONG - Asian markets gained Thursday, building on this month's rally as better-than-forecast economic data in the U.S. buoyed hopes that government stimulus measures are starting to heal the global economy. Every major market across Asia advanced as investors took relief in figures showing orders at U.S. factories for cars, household appliances and other durable goods climbed 3.4 per cent last month. Also, new home sales rose 4.7 per cent in February. The figures - better than the market's expectations - lifted optimism that demand in the world's largest economy might bottom out in the coming months. That's critical for export-driven Asian countries like Japan, South Korea and Taiwan whose economies are getting hammered as American companies and consumers cut back their spending amid the country's worst recession in decades. "These are some of the first signs that we might be seeing a recovery. The hope is that the U.S. economy might be bottoming out," said Francis Lun, general manager of Fulbright Securities Ltd. in Hong Kong. "People are just encouraged the economy hasn't completely dived yet." Hong Kong's market led Asia higher, with the Hang Seng vaulting 486.87 points, or 3.6 per cent, to 14,108.98. Japan's Nikkei 225 stock average rose 156.34 points, or 1.8 per cent, to 8,636.33, and South Korea's Kospi climbed 1.2 per cent to 1,243.80. Elsewhere, Shanghai's index jumped 3.1 per cent, Australia's benchmark added 1 per cent and Singapore's key stock measure advanced 3.8 per cent. India's Sensex was up 2.4 per cent at 9,899.95. The U.S. economic reports lifted exporters in the region, with Sony Corp. jumping 6.8 per cent and Nikon Corp. gaining 4 per cent in Tokyo. Chinese financials also posted huge gains after Goldman Sachs said it wouldn't sell the bulk of its stake in top lender Industrial & Commercial Bank of China Ltd. until next year at the earliest. ICBC soared 14.8 per cent in Hong Kong, while China Construction Bank climbed 7.8 per cent. Bank of China added 7.9 per cent. Upbeats assessments from U.S. banks, combined with government financial bailouts and better-than-expected data, have elevated investors hopes of a turnaround and led markets worldwide dramatically higher this month. Benchmarks in Japan and Hong Kong, down sharply just weeks ago, are now almost flat for the year. South Korea's Kospi has added more than 10 per cent for the year. "The stock market in the past two weeks has also gone up a lot," Hong Kong billionaire Li Ka-shing, one of Asia's richest men, told reporters in Hong Kong as his companies, Cheung Kong and Hutchison Whampoa, announced earnings. "If the U.S. economy can get a foothold, the whole world will respond positively." Cheung Kong, Li's flagship developer, gained 1.9 per cent despite reporting a drop in full-year profit. Hutchison Whampoa added 3.3 per cent on better-than-expected earnings. Asian investors found further encouragement after Wall Street ended an erratic session higher to extend its strong gains this month. The Dow Jones industrial average rose 89.94, or 1.17 per cent, at 7,749.81, while the Standard & Poor's 500 index rose 7.63, or 0.95 per cent, to 813.88 U.S. stock index futures pointed to more gains Thursday in the U.S., with Dow futures up 50 points, or 0.7 per cent, to 7,730, and S&P 500 futures up 6.2 points, or 0.8 per cent, to 814.40. Oil prices rose in Asian trade, with crude for May delivery up 73 cents at $53.50 a barrel. In currencies, the dollar strengthened to 98.11 yen from 97.63 yen late Wednesday, while the euro weakened to $1.3576 from $1.3588.

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