Tokyo - Asian shares soared on Friday on news of a ceasefire accord
in Ukraine, while Sweden's surprise move to cut its main rate into
negative territory and hopes of a resolution between debt-strapped
Greece and its creditors burnished risk appetite.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.6%. Japan's Nikkei slipped 0.4% but the broader Topix avoided losses.
The gains came after a rally in Europe and Wall Street, with the pan-European stock index hitting a seven-year high and the S&P 500 coming within striking distance of a record high.
The Nasdaq also hit a 15-year high while the volatility index, a gauge of investors' fear, fell to around 15.3%, its lowest level so far this year.
Financial spreadbetters expected European markets to sustain gains, predicting Britain's FTSE 100 will open 0.2% higher, Germany's DAX up 1.0%, and France's CAC 40 up 0.5%.
"Investors feel more comfortable now as major sources of worries have been taken away," said Hirokazu Kabeya, senior strategist at Daiwa Securities.
Preliminary data due later in the day is expected to show stagnant growth in the eurozone, with economists forecasting 0.2% expansion in the final three months of last year, unchanged from the preceding quarter
Meanwhile, a standoff
between Greece and its European creditors on Greece's bailout programme
eased somewhat after Greece made an about-face on Thursday, agreeing to
talk to the "troika" of international lenders.
While doubts remain on how quickly they can reach any deal, Greek stocks rose sharply, with the country's main index jumping 6.7%.
Adding to the positive mood, the Swedish central bank surprised investors by launching a stimulus programme and cutting its main interest rate below zero.
The Swedish crown fell by as much 2% against the dollar to hit a six-year low of 8.5512 crowns, its weakest since April 2009, before recovering somewhat to 8.4350 to the dollar.
As Sweden joined a growing number of countries that have eased policy to stimulate growth, some analysts are starting to ponder the merits of the US Federal Reserve continuing to maintain its tightening policy bias.
"As many countries ease monetary policy, many currencies are falling, leading to rise in the dollar, much like the yen was expensive in the past," said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank.
The weak US data also underpinned US Treasuries, with the 10-year US notes yield hitting 1.986%, off a six-week high of 2.049% touched on Thursday..
Oil prices were firm after gains steered by deeper industry spending cuts and a fall in the dollar. Brent crude futures held at $59.10 per barrel.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.6%. Japan's Nikkei slipped 0.4% but the broader Topix avoided losses.
The gains came after a rally in Europe and Wall Street, with the pan-European stock index hitting a seven-year high and the S&P 500 coming within striking distance of a record high.
The Nasdaq also hit a 15-year high while the volatility index, a gauge of investors' fear, fell to around 15.3%, its lowest level so far this year.
Financial spreadbetters expected European markets to sustain gains, predicting Britain's FTSE 100 will open 0.2% higher, Germany's DAX up 1.0%, and France's CAC 40 up 0.5%.
"Investors feel more comfortable now as major sources of worries have been taken away," said Hirokazu Kabeya, senior strategist at Daiwa Securities.
Preliminary data due later in the day is expected to show stagnant growth in the eurozone, with economists forecasting 0.2% expansion in the final three months of last year, unchanged from the preceding quarter
While doubts remain on how quickly they can reach any deal, Greek stocks rose sharply, with the country's main index jumping 6.7%.
Adding to the positive mood, the Swedish central bank surprised investors by launching a stimulus programme and cutting its main interest rate below zero.
The Swedish crown fell by as much 2% against the dollar to hit a six-year low of 8.5512 crowns, its weakest since April 2009, before recovering somewhat to 8.4350 to the dollar.
As Sweden joined a growing number of countries that have eased policy to stimulate growth, some analysts are starting to ponder the merits of the US Federal Reserve continuing to maintain its tightening policy bias.
"As many countries ease monetary policy, many currencies are falling, leading to rise in the dollar, much like the yen was expensive in the past," said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank.
The weak US data also underpinned US Treasuries, with the 10-year US notes yield hitting 1.986%, off a six-week high of 2.049% touched on Thursday..
Oil prices were firm after gains steered by deeper industry spending cuts and a fall in the dollar. Brent crude futures held at $59.10 per barrel.
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