European stocks leapt Wednesday, rising for a second straight day, in a broad-based rally prompted by the prospect that U.S. interest rates won't be raised quickly.

U.S. stocks closed up for a third session in a row Wednesday following dovish comments from Federal Reserve Chairwoman Janet Yellen, helping the Dow Jones Industrial Average set a record for the most up days in a month in six years.

Asian shares edged up to a four-month high on Thursday, taking cues from Wall Street gains overnight, as receding worries of near-term U.S. interest rate hikes continued to buoy risk sentiment. Investor risk appetite has increased since Fed Chair Yellen said on Tuesday that the U.S. central bank should proceed cautiously as it looks to hike rates, pushing back against some colleagues who have suggested another move may be just around the corner.

Based on MarketWatch materials