Asian Shares Rally

Asian stocks hit their highest level in 13 months on Thursday on signs the global economic recovery could be strengthening, while the dollar slid to a fresh one-year low as investor optimism eroded its safe haven appeal.

Shares in Japan rose 1.7 percent as the Bank of Japan upgraded its view on the economy and a Reuters Tankan survey showed the mood among Japanese manufacturers this month at a one-year high.

China shares also rallied, with Shanghai stocks jumping 2 percent, as a senior Chinese government economist said China's economy may regain double-digit annual growth in the fourth quarter. Stronger-than-expected growth though could also bring monetary tightening closer to the horizon.

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