Equity markets in Asia extended overnight gains in the U.S. early Thursday, lifted by expectations of upbeat earnings reports and higher oil prices, though investor caution over central-bank action has capped the upside. Investors were awaiting central-bank decisions by the Bank of Japan - which maintained its monetary policy Thursday and pushed back its inflation goal - and the European Central Bank, due later in the day. While the banks were widely expected to stand pat, the focus now is on any fresh guidance from the ECB toward tighter monetary policy.

European stocks finished with solid gains Wednesday, carried by well-received corporate earnings reports including from Swedish appliance maker Electrolux AB, while a more than $4 billion deal drew Reckitt Benckiser Group PLC shares higher .

U.S. stock-index gauges on Wednesday carved out fresh all-time highs, with the Dow joining the S&P 500 and Nasdaq at records. Better-than-expected results from Morgan Stanley helped to reaffirm optimism about the current economy and earnings season-factors crucial to supporting current levels considered lofty.