Monsoon's back to profit while Asian stocks resurge

Excepting the Nikkei, Asian markets ended slightly higher Thursday, bouncing

back from recent declines on positive data in the region boosting sentiment and despite mainland Chinese markets remained closed for the Lunar New Year Holiday.

The Nikkei slipped 0.2 percent whereas the Sensex edged up 0.2 percent. Meanwhile, Hong Kong-based Hang Seng gained 0.7 percent. Globally focused firms gained ground with fashion apparel retailer Esprit Holdings adding 3.3 percent, footwear retailer Belle International Holdings up 1 percent and Li & Fung Ltd. Advancing by another 1 percent.

Neighbouring Australia saw national retail sales improved in December as expected, climbing 0.5 percent on a monthly basis, reported 'Morningstar'.

In London, Burberry announced that Jeremy Darroch, CEO of British Sky Broadcasting Group (LON:BSY), had joined its board as a non-executive director and a member of its audit, remuneration and nomination committees. According to Burberry's statement, the appointment took effect immediately and is in line with the fashion retailer's strategy to focus on delivering long-term shareholder value.

Burberry, which last month released an upbeat third-quarter trading update has had its 'hold' rating restated by Deutsche Bank in a research note issued Thursday. The analysts currently have a 1,600 pence price target on the stock, suggesting a potential upside of 11.50 percent from the current share price.

On its own, Monsoon Accessorize celebrated returning to the black last year under new chief executive John Browett. The fashion and accessories retailer generated pre-tax profit of 18.1 million pounds in the 53 weeks to August 31, 2013 well ahead the pre-tax loss of 2.4 million pounds it noted in 2012. Underlying group turnover jumped 4.3 percent to 551.9 million pounds.