Nikkei: 8,864.16 (+195.30) Hang Seng: 19,455.31 (+273.81) Shanghai Comp: 2,482.34 (+3.29)ASIAN STOCKS rose yesterday, trimming losses on the regional benchmark index this week, after the European Central Bank and international policy makers co- ordinated to lend dollars to euro area banks, increasing confidence the region's debt crisis may be contained.
The MSCI Asia Pacific Index gained 2.1 per cent to 120.35 The gauge advanced for a second day, rebounding from its lowest level since August 25th, 2010.
For the week, the index is headed for 0.4 per cent loss.
Concern the global economy was slipping back into a recession amid a worsening European debt crisis and slowing US growth triggered a 16 per cent plunge in the MSCI Asia Pacific Index between this year’s high on May 2nd and yesterday.
Japan’s Nikkei 225 Stock Average climbed 2.3 per cent to 8,864.16, while South Korea’s Kospi Index rose 3.7 per cent to 1,840.10 .
Australia’s SP/ASX 200 Index advanced 1.9 per cent in Sydney to 4,229.90. Hong Kong’s Hang Seng Index rose 1.4 per cent to 19,455.31, while China’s Shanghai Composite Index increased 0.1 per cent to 2,482.34 . – (Bloomberg)
