Asian stocks rebounded on Thursday , following Wall Street's lead, as investors quickly came to terms with Donald Trump's unexpected election victory and pushed up the price of commodities and mining and financial stocks.

U.S. futures rose, with Dow Jones futures recently up 0.23%, the S&P 500 mini up 0.22% and Nasdaq 100 mini up 0.63%.

The Nikkei 225 erased Wednesday's 5.6% decline by rising 6.72% to close at 17,344.42. The Topix closed 5.78% at 1,376.35. Financial stocks leaped, with insurer T&D rising 13%, making it the lead gainer.

Exporters also rose, with Honda Motor up almost 9% and Toyota Motor (TM) - Get Report up 6%. Government data showed Japanese machinery orders, excluding ships and equipment used by utilities, fell by 3% month-on-month in September, marking the second straight month of contraction. The outcome was worse than the 1.5% decline analysts had expected.

In Sydney the S&P/ASX 200 climbed 3.34% to 5,328.8, as mining stocks surged with iron ore prices on the back of Trump's plan to ramp up infrastructure spending. BHP Billiton (BHP) - Get Report gained 8.2%, Rio Tinto (RIO) - Get Report closed up 8.2%, and Fortescue Metals jumped 10.7%. Iron ore rose more than 5%.

In Hong Kong the Hang Seng was up 2.03% at 22,871.29, with the main gainers including oil producer CNOOC, and lenders HSBC (HSBC) - Get Report and Bank of East Asia.

Real estate developer China Vanke was up 5.1% after China Evergrande said it had bought additional shares to take its holding to 8.3%. Evergrande was recently up 0.4%.

On mainland China the CSI 300 rose 1.06% to 3,388.47.

The price of Brent crude increased by 0.84% to $46.75 a barrel.

Spot gold was up 0.72% at $1,288.02 an ounce.

The dollar slipped against the yen, the euro and the pound and stabilized against the Mexican peso after sending that currency into freefall yesterday.