Asian stocks rebound, dollar at 12-year high

Hong Kong - The dollar edged closer towards parity with the euro on Thursday after the European Central Bank (ECB) kicked off its stimulus programme this week, while Asian equity markets recovered slightly from a recent sell-off.

Sydney shares were given a lift by data showing Australia's unemployment rate had eased slightly, while South Korea became the latest country to cut interest rates as it struggles to fight off deflation.

Tokyo rallied 1.43% to 18 991.11, Sydney added 0.98% to close at 5 850.17 and Shanghai rallied 1.78% to 3 349.32, while Hong Kong advanced 0.34% to 23 797.96.