The yen and dollar depreciated against major currencies amid rising risk tolerance. Oil rose for a second day in New York and Copper gained in London
Market in Japan closed up with technology exporters pacing the advance on the yen's pullback from recent rally, while Chinese coal shares gained on hopes of industry consolidation.
The MSCI Asia Pacific Index advanced 0.5%.
The Nikkei 225 Stock Average in Tokyo ended 0.7% higher at 8,906, snapping a four-session losing streak that dragged the benchmark to a 16-month closing low on Wednesday.
China's Shanghai Composite rose about 0.3% to close at 2,728, while Australia's S&P/ASX 200 gained 0.8% to 4,389. Hong Kong's Hang Seng Index slipped 0.1% to 20,612 for its fifth straight negative session.
Taiwan's main index ended 0.6% lower and South Korea's Kospi fell 0.3%.
The Philippines Stock Exchange Index jumped 1.2%, the most in seven weeks, after economic growth unexpectedly accelerated last quarter to the fastest pace in three years.
The yen and dollar depreciated against most major currencies amid rising risk tolerance. Oil rose for a second day in New York and Copper gained in London from the lowest closing price in a month.
Gold steadied after hitting an eight-week high earlier, as a pick-up in risk appetite temporarily dented the precious metal's safe haven appeal.
The cost of insuring against a default by the Ireland fell as the government sold 600 million euros (US$762mn) of bills.
The Stoxx Europe 600 Index rebounded from a five-week low, rising 0.7% to 249 after Credit Agricole, L'Oreal and Accor.
The UK's FTSE 100 index was up 0.7% at 5,144, while the French CAC 40 index rose 0.7% to 3,474, and Germany's Dax-30 index was up 0.4% at 5,921.
Russia’s Micex Index advanced 0.8%, the first increase in three days, and the ruble strengthened 0.5% against the dollar. South Africa’s rand appreciated 0.6% as rising gold and platinum prices boosted the outlook for export earnings.
US stocks rallied late on Wednesday, with the Dow Jones Industrial Average rising 0.2%, snapping a four-session losing streak, as investors picked up stocks battered by the recent selloff.
