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Asia stocks rally, with Tokyo, Hong Kong in lead

Posted by Forexsq 98 days ago (http://www.marketwatch.com)
img Forexsq.com - Asian stocks surged on Wednesday, with Japan’s main benchmark hitting six-month highs, after China indicated plans to expand its support to Europe as the region grapples with debt woes.

The Japanese Nikkei Stock Average JP:NIK +2.30% rallied 2.7% to a level not seen since Aug. 5 last year, while Hong Kong’s Hang Seng Index HK:HSI +2.14% jumped 2%.

The Shanghai Composite Index CN:000001 +0.94% gained 0.9%, the South Korean Kospi KR:0100 +1.13% climbed 1%, while Australia’s S&P/ASX 200 index AU:XJO +0.25% rose 0.3%.

U.S. shares had ended the session mostly unchanged, with stocks staging a late rebound from early losses related to weak retail sales figures.

“[U.S. stocks] were prevented from registering deeper losses following news that Greece will commit to austerity measures,” said strategists at Credit Agricole

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