TOKYO—Asian stocks were up on Thursday after U.S. markets restored some stability.

The latest global selloff was triggered Tuesday when an official measure of Chinese manufacturing activity for August slumped to a three-year low. Markets in China are closed on Thursday and Friday.

A move to haven assets such as U.S. Treasurys and Japanese yen is easing after data showed that U.S. private-sector jobs expanded at a modest pace in August. A U.S. Federal Reserve report also provided evidence that some workers are starting to see pay increases.

Japan's benchmark Nikkei was recently up 1.8%. Australian stocks were 0.4% higher. Korea's Kospi was up 0.4%. New Zealand stocks were 0.6% higher.

Still, some question the sustainability of the rebound because of lingering concerns about the pace of Chinese economic growth. Investors fear a further slowdown of the Chinese economy will weigh on its trading partners and commodity producing countries.

"China risk is still there," said Yoshihiro Okumura, general manager of research at Chibagin Asset Management. "It's still unclear whether the market is moving higher or lower from here."

Stock gains in Japan so far in this session are led by companies catering to domestic demand. Pharmaceutical firm Daiichi Sankyo Co. is up 4.0%. Food company Ajinomoto Co. is 3.8% higher.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

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(END) Dow Jones Newswires

September 02, 2015 22:05 ET (02:05 GMT)