China's exports likely grew more quickly and for a second month in May thanks to improving overseas demand, giving officials some comfort as they navigate numerous challenges at home to shore up an uneven economic recovery.

China's services activity in May accelerated at the quickest pace in 10 months while staffing levels expanded for the first time since January, a private sector survey showed on Wednesday, pointing to sustained recovery in the second quarter.

Hiring by U.S. private employers slid to a four-month low in May, with small firms reducing staff, and wage gains for job changers moderated for a second month, according to a report on Wednesday that added to signs the job market is cooling.

The U.S. services sector snapped back into growth mode in May after a short-lived contraction in the prior month, with a measure of business activity improving by the most in three years, according to a survey published on Wednesday that may buttress the Federal Reserve's wariness of a shift to interest rate cuts.

Asian shares gained on Thursday on rising expectations the U.S. Federal Reserve will likely cut interest rates in September, while the euro advanced ahead of the European Central Bank policy meeting where a rate cut is widely expected.

Oil prices rose in Asian trade on Thursday, extending a rebound from four-month lows as optimism over lower interest rates in the coming months offset negative signals from an unexpected build in U.S. inventories.