Asian stocks advanced on Thursday as companies like Alphabet and SK Hynix posted encouraging earnings and media reports suggested that the EU and U.S. are closing in on a trade deal that would impose 15 percent tariffs on European imports.

Gold traded weak around $3,375 per ounce in Asian trade and the dollar held at more than two-week low ahead of the ECB interest-rate decision, while oil climbed following a string of losses.

China's Shanghai Composite index jumped 0.65 percent to 3,605.73 on signs of easing U.S.-China tensions before vital trade talks.

Hong Kong's Hang Seng index rose 0.51 percent to 25,667.18 as a summit between China and the European Union (EU) kicked off in Beijing, with leaders set to discuss issues ranging from trade conflict to the war in Ukraine.

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