Asian stocks rose amid a choppy session on Thursday as the market digested expectations that the European Central Bank (ECB) will launch an aggressive stimulus package at today's policy meeting.
"It is clear investors are positioning for some aggressive action by Europe. The headline will be the size of the program on a nominal basis, with broad expectations of a 550 billion euros plan," Stan Shamu, IG's market strategist, wrote in a report. "With expectations running high, the risk will be for the ECB to disappoint."
Wall Street set the positive mood by finishing higher in a choppy session overnight, as investors digested reports that the ECB's executive board had proposed monthly bond purchases of roughly 50 billion euros in a quantitative easing program that would last at least a year. The Dow Jones Industrial Average ended up 0.2 percent while the S&P 500 added 0.5 percent. The tech-heavy Nasdaq gained 0.3 percent.