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Eurozone hopes, Spain Credit rating lift Asian markets

Asian markets were boosted Wednesday on increased confidence in the eurozone after Moody’s held off cutting Spain’s credit rating, while Madrid looked to move closer to asking for a bailout.
 
A successful bond auction for Greece added to the sense of optimism, while the euro maintained its gains seen in late trade Tuesday as investors sought out riskier assets.
 
Tokyo jumped 1.21 percent, or 105.24 points, to 8,806.55, Sydney added 0.82 percent, or 36.7 points, to 4,528.2 and Seoul was 0.70 percent higher, adding 13.61 points to 1,955.15.
 
Hong Kong rose 0.99 percent, or 209.57 points, to 21,416.64 and Shanghai was up 0.32 percent, or 6.81 points, at 2,105.62.
 
Moody’s gave debt-addled Spain some much-needed room on Tuesday when it held the country’s rating at Baa3, one notch above “junk”, citing the European Central Bank’s willingness to buy government bonds to stabilise its borrowing rate.
 
It also pointed to Madrid’s commitment to implementing fiscal and structural reforms necessary to improve its finances as well as efforts to restructure the banking sector and strengthen the banks. However, the agency kept it on a “negative outlook”.
 
Also, a senior Spanish official has said that Madrid was considering a request for a line of credit from Europe’s…

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Debt Crisis Long-Term Stability Strategies

Asian markets were boosted Wednesday on increased confidence in the eurozone after Moody’s held off cutting Spain’s credit rating, while Madrid looked to move closer to asking for a bailout.
A successful bond auction for Greece added to the sense of optimism, while the euro maintained its gains seen in late trade Tuesday as investors sought out riskier assets.

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Tokyo jumped 1.21 percent, or 105.24 points, to 8,806.55, Sydney added 0.82 percent, or 36.7 points, to 4,528.2 and Seoul was 0.70 percent higher, adding 13.61 points to 1,955.15.

Hong Kong rose 0.99 percent, or 209.57 points, to 21,416.64 and Shanghai was up 0.32 percent, or 6.81 points, at 2,105.62.

Moody’s gave debt-addled Spain some much-needed room on Tuesday when it held the country’s rating at Baa3, one notch above “junk”, citing the European Central Bank’s willingness to buy government bonds to stabilise its borrowing rate.
 

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Europe hopes lift Asian markets

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