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Greek debt deal hopes pull Asian equities higher

08 Feb 2012 Evaluate

Asian stock markets climbed on Wednesday, helped by signs of progress over debt restructuring talks in Greece, while the Tokyo market tapped a three-month high as Toyota Motor surged. Earlier, Asian markets took a lead from Wall Street, which ended higher on Tuesday on hopes for action on the euro-zone’s debt crisis and growing optimism that a stronger US job market signalled a recovery for the world's number one economy.

The optimistic mood in markets sent the Seoul’s benchmark Kospi index up to a six-month high of 2,003.73. However, the gains were capped ahead of Thursday’s options expiry. While, Hong Kong shares hit a six-month high, led by Chinese oil, property and material names, but gains were capped by chart resistance. Meanwhile, Japanese Nikkei closed above the 9,000-mark for the first time in 3 months, boosted by profit outlook from Toyota Motor Corp and optimism over US economic growth.

Asian Indices

Last Trade

Change in Points

Change in %

Shanghai Composite

2,347.53

55.63

2.43

Hang Seng

21,018.46

319.27

1.54

Jakarta Composite

3,988.70

33.25

0.84

Nikkei 225

9,015.59

98.07

1.10

Straits Times

2,982.20

24.42

0.83

Seoul Composite

2,003.73

22.14

1.12

Taiwan Weighted

7,869.91

162.47

2.11

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