Asian stocks surge as economy blues fade

By Rafael Nam

HONG KONG (Reuters) - Asian stocks rose on Thursday, and Tokyo's Nikkei scored its best daily gain in six years after a surprise increase in U.S. retail sales and strong growth in Japan's economy eased fears about a sharp global slowdown.

Japan's benchmark Nikkei .N225 surged 4.3 percent -- its biggest daily percentage surge since 2002, while stocks in South Korea and Taiwan also rose more than 4 percent.

Asian bonds slid as investors shunned safe-haven investments, while the dollar held around a one-month high against the yen.

Platinum broke above the $2,000 level to hit a record as power supply problems afflict major producer South Africa, but oil prices edged higher, extending the gains a day earlier on the intensifying legal row between Venezuela and Exxon Mobil

(XOM.N).

European shares were also seen higher, though not to the extent of Asian markets. Britain's FTSE 100 .FTSE was expected to open up 28 to 34 points and France's CAC .FCHI up 26 to 34 points, poised for gains of 0.6-0.8 percent, according to financial bookmakers in London.

"Buoyant U.S. economic data combined with a perception that (stock) markets have seen lows are prompting buying interest," said Hwang Geum-dan, an analyst at Samsung Securities in Seoul.

MSCI's measure of Asian stocks outside Japan .MIAPJ0000PUS rose 3.6 percent by 0622 GMT, its biggest gain since a 5.1 percent surge in January 25.