Australian shares rose 0.8 percent on Thursday, revived by a surge in jobs that lifted retailers while steadier copper prices helped miners. Data showed Australian employment jumped 44,000 in March, trouncing expectations for a rise of 6,000 and sending the local dollar higher.
The underlying S&P/ASX 200 index added 34 points to 4,280.5, according to the latest data, breaking a four-day losing streak. On Wednesday, it fell 1.1 percent to a one-month low of 4,246.13.
"Further volatility and weakness is possible over the next few months," said Shane Oliver, strategist at AMP Capital. "We still see share markets as being higher by year end, so would see any weakness in coming months as providing attractive entry points," Oliver said.
He recommended closely watching Spanish and Italian bond yields, the U.S business conditions, Chinese money supply growth and the Australian dollar, a good barometer of global economic confidence.
New Zealand's benchmark NZX 50 index rose 0.6 percent to 3,487.1 points. Department store Myer and electronics and furniture retailer Harvey Norman both rose over 2 percent, boosted by the rise in jobs.