Asia Markets Gain from EU Rescue Plan

Stock markets across Asia were higher Tuesday, reflecting investor confidence in the European Union's $1 trillion bailout package, reports the Wall Street Journal.

 

According to the Journal, Japan's Nikkei 225 was 0.5% higher, Australia's S&P/ASX 200 gained 0.3%, South Korea's Kospi Composite went up 0.4% and New Zealand's NZX-50 rose by 0.7%.

 

"Yesterday's gain seems to have reflected much of the cheer from the EU's bailout plan," Lee Kyoung-min at Woori Investment & Securities in Seoul told the Journal, adding that "investors will likely bet on stocks strongly when they are convinced that fundamentals in Europe wouldn't be hurt by those countries with debt troubles."

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