Asian shares gain on China, global trade hopes
China is not the only one taking steps to revive growth, with governments globally ramping up spending, cutting taxes and bailing out banks or even industrial sectors.
Central banks meanwhile are cutting rates aggressively in a bid to revive growth. The Bank of England on Thursday was expected to lower already record low interest rates by at least another 50 basis points to 1 percent.
The European Central Bank, however, is expected to keep its rates on hold for now at 2 percent after four months of cuts.
The euro was little changed from late U.S. trading on Wednesday at $1.2820 after slumping a day earlier when Fitch became the second credit ratings agency within two months to downgrade Russia's ratings.
Against the Japanese currency, the euro dipped 0.3 percent to 114.48 yen while the dollar eased 0.2 percent to 89.28 yen
Oil prices rose 15 cents to $40.46 a barrel, after starting Asian trade with falls that had been sparked by data on Wednesday showing a rise in U.S. crude inventories.
Gold fell $1.3 to $903.55 as investors switched safe-haven assets for riskier ones such as stocks which may offer higher returns. Still, analysts at Goldman Sachs said gold's safe-haven appeal remained intact and should support prices in coming weeks.
Prices of bullion could reach $1,000 an ounce in the next three months, Goldman Sachs said in a report, boosting its forecast from its prior call at $700 an ounce.
Elsewhere, benchmark 10-year yields for Japanese government bonds dropped 2 basis points to 1.325 percent after hitting a high of 1.350 percent on Wednesday, the highest since mid-December.
March futures rose 0.12 point to 138.47 rebounding from a 2 1/2-month low of 138.28 touched the previous day.