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Asian stocks made broad gains on Thursday, extending an overnight global rally, while oil prices steadied at levels not seen since before Russia’s invasion of Ukraine.

Japan's Nikkei share average jumped 1.96% in early trading.

“Today for Asia it’s really a story of whether zero-COVID will continue to impact the Chinese economy, which will of course have a spillover effect in terms of imports,” said Gary Ng, senior economist at Natix is in Hong Kong.Markets are awaiting a speech by Federal Reserve Chairman Jerome Powell later today for signs of any let-up in the central bank’s hawkish approach to tackling inflation.

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