Asian stocks bounced from six-week lows on Thursday, spurred by Federal Reserve Vice Chair Janet Yellen's dovish comments which suggested the U.S. economy could count on stimulus support for a longer period than markets anticipate.
Yellen, in remarks released ahead of her closely-watched Senate confirmation hearing on Thursday to succeed Fed chief Ben Bernanke, said the Fed has "more work to do" to help the economy, indicating she was in no hurry to start tapering stimulus.
The comments sent U.S. stocks surging and supported bond prices, while the dollar came under pressure, although it narrowed its looses during the Asian session.
In Asia,Japan's Nikkei jumped 1.4 percent and hit three-week high, also helped by data showing Japan's economic growth in July-September beat market expectations.
The world's third biggest economy grew an annualised 1.9 percent, above market expectations of 1.7 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.0 percent, moving way from a six-week low hit on Wednesday.
Mainland Chinese shares slipped, however, with banks shares hit by a rise in repo rates after the Chinese central bank drained funds.
Source: Reuters
