Surged yesterday after the Asian SHARE weekend meeting of European leaders shows the development of promising to address the regional debt crisis which could result in an economic downturn.
Euro zone rescue effort raising 440 billion euros (U.S. $ 610 billion), European Financial Stability Facility (EFSF), to convince the market that they have the means to protect countries like Italy and Greece are facing high debt burdens.
However, they just announced some concrete details of the weekend meeting with a promise to disclose all of the second summit on Saturday.
Investors will also monitor the yen reached a record high after the war, 75.78 against the U.S. dollar (U.S.) last Friday, before the dollar regain its strength to 76.15 yen in afternoon trading yesterday. The surge was led to the Minister of Finance of Japan to take steps to address the appreciation of their currencies are concerned the strengthening of the yen will affect Japan's exports.
Tokyo closed 1.90 percent or 165.09 points higher at 8,843.98, while Sydney jumped 2.73 percent or 113.1 points to be 4.255 and Seoul rose 3.26 percent or 59.94 points to 1,898.32. Hong Kong rose 4.14 percent or 746.10 points ending at 18,771.82, while Shanghai rose 2.29 percent or 53.06 points to close at 2,370.30. Both the market was driven by better production statistics from China. Discussion Euro zone debate on how to increase the number of rescue funds without raising guarantees each state included in the fund, a sensitive issue for rich countries such as Germany, which began to loathe save the weaker euro zone members. " trading conditions are generally optimistic that the Eurozone policymakers will announce on Wednesday a significant step to support the rescue funds and resolve Greece's debt crisis, while supporting the banks in the region, "said IG Markets analyst, Stan Shamu.