Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight.
"Calm has finally returned to markets," analysts at Mizuho Bank wrote in a note. Trading in markets globally was volatile at the start of the week, but stabilized after news reports in recent days indicated an easing in tensions between the U.S. and China.
Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia. The Shanghai composite ended the trading session at 1.23 percent higher at 2,634.0491 points, while the Shenzhen composite closed 1.106 percent higher at 1,360.9222 points. Hong Kong's Hang Seng Index gained 1.18 percent to end at 26,495.67 points.
In Japan, the Nikkei 225 rose 0.99 percent to close at 21,816.19 points and the Topix index ended 0.62 percent higher at 1,616.65 points. Over in South Korea, the Kospi inched up 0.62 percent to 2,095.55 points at the close.
Australian stocks, meanwhile, saw relatively modest gains. The ASX 200 index ended the session at 5,661.6 points — up 0.14 percent.
There were big moves in the Australia market. Shares of Hutchison Telecommunications plunged 21.43 percent at the close, while TPG Telecom fell by 16.67 percent. The two companies announced plans to merge in August this year, but the Australian Competition and Consumer Commission on Thursday released a statement expressing concerns about the proposal.