Asia stocks soar on U.S. data; Nikkei up 2.03%

Investing.com - Asian stocks rose on Wednesday on news that retail sales in the U.S. came in solid in February, while the Federal Reserve gave a reasonably upbeat assessment of the economy and made no mention of a need for extraordinary monetary easing policies.

During Asian trading on Wednesday, Hong Kong's Hang Seng Index was up 1.21%, Australia's S&P/ASX200 was up 0.94%, while Japan’s Nikkei 225 Index was up 2.03%.

The U.S. Federal Reserve left interest rates unchanged earlier Tuesday, and made no mention for a need to consider stimulating the economy via easing measures, such as purchasing assets like bonds from banks to inject liquidity into the financial system.

Since easing measures weaken the dollar, no mention of such a need sent the dollar rising and sentiments building that the world's largest economy continues healing from the extended downturn on its own.

Furthermore, while unemployment rates in the U.S. remain elevated, they should continue falling, the Federal Reserve added.

Meanwhile, the Federal Reserve reported separately that 15 of the country's 19 big banks passed stress tests, thus demonstrating they can handle duress.

In other news, U.S. retail sales came in line with expectations, growing a healthy 1.1% in February from January, which boosted spirits in equities markets throughout Asia, a key exporter to the U.S.

A healthier U.S. economy should mean healthier demand for Asian goods and services, which reflected in equities trading early Wednesday.

In Hong Kong, the top gainers included Li & Fung, up 4.62%, China Life, up 2.98%, and China Merchants Holdings, up 2.72%.

In Australia, the top gainers included Mirabela Nickel, up 7.14%, Aquarius Platinum, up 5.73%, and Seek Limited, up 4.95%.

European stock futures indicated a lower opening.

France's CAC 40 futures pointed to a loss of 0.29%, while Germany's DAX 30 futures signaled a loss of 0.25%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.12%.

Dow Jones Industrial Average futures were down 0.08% while the S&P 500 futures were down 0.19%.

In Asia later Wednesday, Australia is to produce a report by the Westpac Banking Corporation detailing consumer sentiment.

Japan is to release government data on manufacturing activity, followed by the Bank of Japan's monthly report.

In the U.S., Federal Reserve Chairman Ben Bernanke is scheduled to speak, and markets will keep a close eye on further confirmation of existing monetary policies or hints that changes may be needed down the road.