Asian stocks rebound after poor US data saps rate-hike calls

Asian stocks ignored negative cues from US markets overnight, with most of the main Asian bourses rising at the open on Thursday. Investors were caught off guard by lackluster US retail data on Wednesday. US retail sales rose 0.1% in September, according to the Department of Commerce, failing to match the meager 0.2% increase expected by markets.

Japan's benchmark Nikkei 225 index rose 0.56% to 17,991.91 points within the first hour of trade, while Tokyo's broader Topix gauge jumped 0.59% to 1,479.58 points.

Hong Kong's benchmark Hang Seng index advanced 0.75% to 22,608.04 points at the opening bell, but mainland China's benchmark Shanghai Composite eased 0.23% to 3,255.03 points at the same time.

Korea's benchmark Kospi index jumped 0.88% to 2,027.23 points this morning in Seoul. The Bank of Korea kept its benchmark rate on hold at a record-low 1.50% on Thursday.

The benchmark Australian S&P/ASX 200 index traded 0.52% higher at 5,224.10 points in Sydney, with oil and gold miners off to a solid start. In economic news, Australia's jobless rate held at 6.2% last month, according to the Australian Bureau of Statistics, despite job growth declining by 5,100. Analysts anticipated that the unemployment rate would be stable in September, but thought the economy would add around 7,000 jobs.

New Zealand's benchmark S&P/NZX 50 index rose 0.18% to 5,737.26 points this afternoon in Wellington.