The Nikkei Stock Average was up 1%, while stocks from Singapore to Korea rose fractionally.
Shares across the region got a boost after the European Central Bank raised its growth forecast for Europe to 1.5% this year, and 1.9% in 2016, a sign of increased confidence in the global economy's trouble spots. The bank is expected to start its bond buying program on Monday, in which it plans to spend roughly $60 billion a month, with an eye toward buying up to $1.1 trillion worth of European debt.
In Japan, shares of FamilyMart Co. were down 3.3% after The Wall Street Journal reported that the convenience-store operator was set to begin merger talks with Circle-K owner UNY Group Holdings Co. A combination would become Japan's second-largest convenience-store group after 7-Eleven owner Seven & I Holdings Co., shares of which rose 1.3%. Shares of UNY jumped 9.5%.
The Shanghai Composite was up 0.5% and the Hang Seng Index gained 0.3%, with Beijing's latest growth forecast on the mind of investors. Premier Li Keqiang said yesterday that China is targeting growth of 7% this year, from the realized 7.4% last year.
Write to Chao Deng at Chao.Deng@wsj.com
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(END) Dow Jones Newswires
March 05, 2015 22:00 ET (03:00 GMT)
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