HONG KONG: Asian stocks mostly rose Friday, shrugging off concerns about the eurozone's debt crisis as a batch of rosy US economic data buoyed investor sentiment with the Dow hitting a near four-year high.
Sydney was up 0.31 percent, Tokyo surged 1.81 percent while Seoul touched a six-month high, rising 1.39 percent.
Hong Kong was up 0.74 percent while Shanghai shares lost early gains, edging down 0.26 percent.
"The US continues to be one of the brighter spots in the global economy," Barclays Capital said in a note, adding that while risks abound, "Greece is less likely to deliver a scare to markets, which already seem to be pricing quite a negative scenario."
Investors were encouraged by news the European Central Bank plans to swap its Greek debt holdings for new bonds once debt-restructuring negotiations are complete, moving Athens a step closer to securing a second bailout package critical to avoiding a default. (AFP)
Sydney was up 0.31 percent, Tokyo surged 1.81 percent while Seoul touched a six-month high, rising 1.39 percent.
Hong Kong was up 0.74 percent while Shanghai shares lost early gains, edging down 0.26 percent.
"The US continues to be one of the brighter spots in the global economy," Barclays Capital said in a note, adding that while risks abound, "Greece is less likely to deliver a scare to markets, which already seem to be pricing quite a negative scenario."
Investors were encouraged by news the European Central Bank plans to swap its Greek debt holdings for new bonds once debt-restructuring negotiations are complete, moving Athens a step closer to securing a second bailout package critical to avoiding a default. (AFP)