Funds pour into japanese property market

Asian stocks rose on Thursday after a successful bond auction in Portugal eased fears about the euro zone's debt crisis and boosted European and U.S. stocks.

The Nikkei 225 rose to an eight-month intraday high for a second straight day on Thursday, a successful bond auction in Portugal eased fears about the euro zone's debt crisis and lifted European and U.S. shares.

Financials, which led Wednesday's advance, extended gains as foreign investors continued adding underweight banking stocks to their portfolios. Mitsubishi UFJ Financial Group, Japan's biggest bank by assets, gained 1.3 percent.

The property sector was also among the top gainers, as foreign funds piled into real estate shares supported by the Bank of Japan's asset buying scheme and as vacancy rates in first-class buildings in Tokyo fell in the October-December quarter.