Asian stocks pushed higher on Thursday, a day after US stocks soared to the highest level since October 2008, when global markets were in freefall following the collapse of Lehman Brothers.
Investors cheered stronger-than-expected earnings from computer chip giant Intel and Wall Street bank JPMorgan Chase that propelled the Dow Jones Industrial Average above 10,000 points.
It was the first time the index had been above the key level since October 7, 2008, when global markets were in turmoil following the collapse of Lehman Brothers three weeks earlier.
"The bulls in the market appear to have the bit between their teeth and are ceaselessly charging forward," said Calyon economist Stuart Bennett.
"Sometimes, however, optimism can blind the hopeful and it was noticeable that whilst the JPMorgan figures were good, the bank did warn that the significant gains in some areas may not be sustainable."
Optimism about the economic outlook in the Asia-Pacific region grew after Australia's central bank chief signalled further interest rate rises were likely there to contain inflation as the economy recovers.
Stocks rose 1.77 percent in Tokyo and by 0.60 percent in both Sydney and Seoul. Hong Kong ended 0.51 percent higher while Shanghai closed up 0.31 percent.
Bucking the trend was Bangkok, where stocks dived by as much as eight percent during trading amid concerns over revered King Bhumibol Adulyadej's health, despite assurances from the palace that his condition was "good".
"It's a major concern," an analyst with a Bangkok-based brokerage told AFP, asking not to be named. "The king is a key institution for political stability in Thailand so the market is closely watching his health."
Europe's main stocks were mostly higher in early deals. London added 0.18 percent and Paris edged up 0.07 percent, but Frankfurt opened marginally lower.
"The US reporting season is -- so far -- delivering exactly what the world's equity investors wanted," said Ian Williams of Altium Securities.
Investors were waiting for another slew of earnings news later Thursday from US corporate giants such as Citigroup, Goldman Sachs and Google.
Markets took in stride a report showing a drop in US retail sales, due in large part to the end of government trade-in incentives.
