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Asian equity markets surged on Thursday on signs of easing Sino-US trade tensions and expectations that China will step up efforts soon to support its cooling economy.

After a quiet start, MSCI's broadest index of Asia-Pacific shares outside Japan was up more than 1 percent by midday, building on early gains made after British Prime Minister Theresa May survived a no-confidence vote.

Regional gains were concentrated in Chinese shares, with Chinese blue-chips up 1.9 percent and Hong Kong's Hang Seng index gaining 1.4 percent.

Japan's Nikkei stock index was 1 percent higher, while Australian shares gained 0.4 percent.

US stock futures rose 0.5 percent, pointing to a firmer opening on Wall Street.

(From Reuters)

India’s bonds rose on Thursday after inflation eased sharply in November, bolstering expectations of a rate cut sooner than expected, while the rupee also strengthened as global trade tensions eased.

The 10-year benchmark bond yield fell to 7.38 percent in early trade from 7.41 percent in the previous session, while the rupee was at 71.70 to the dollar, compared with 72.01 on Wednesday.

India’s November inflation fell to a 17-month low of 2.33 percent, driven by falling food prices, and below the central bank’s medium term target of 4 percent.

(From Reuters)

The Indian market surged in the opening on Thursday after the new Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday promised to uphold the central bank's autonomy, credibility, and values.

The BSE Sensex opened 245 points higher, at 36,024 points while the NSE Nifty opened 65 points higher, at 10,806 points. 

The investors were also upbeat on positive macro cues after the consumer price index (CPI) inflation rate for November fell to a one-and-half year low of 2.33 percent against October’s 3.77 percent.

On global front, British Prime Minister Theresa May surviving a no-confidence vote came as a breather for global investors. Additionally, China appeared to be taking more steps to meet US demands to open its markets.

Rupee open: The rupee opened at 71.71 against the US dollar.

Fuel prices remained unchanged in three metro cities — Mumbai, New Delhi and Chennai on Thursday. However, petrol and diesel prices increased by Re 1 each in Kolkata. The per litre petrol price increased to Rs 73.28 and diesel price rose to Rs 67.40 per litre in the city.

According to the Indian Oil Corp data, petrol prices in Mumbai, New Delhi and Chennai were at Rs 75.80 per litre, Rs 70.20 per litre and Rs 72.82 per litre, respectively, while diesel stood at Rs 67.66 a litre in Mumbai, Rs 64.66 a litre in New Delhi and Rs  68.26 a litre in Chennai.