10 Oct '11, 3am

Asian shares lifted by Europe bank plans

HONG KONG: Asian shares began Monday on a high after France and Germany said they had agreed a plan to support Europe's banks, while US jobs data also provided some lift. However, dealers remained cautious after Wall Street finished last week with a loss and Fitch downgraded the debt ratings of Italy and Spain. Hong Kong gained 0.66 per cent in the first few minutes, Sydney gained 1.20 per cent, Seoul was 1.10 per cent higher and Shanghai, which was closed last week for the Golden Week holiday, was 0.16 per cent up. Tokyo and Taipei were closed for public holidays. French President Nicolas Sarkozy and German Chancellor Angela Merkel put on a united front Sunday and vowed after talks in Berlin a response to Europe's debt crisis within weeks. Without announcing concrete details, Sarkozy said there would be "lasting, global and quick responses before the end of the month", am...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

Tweets

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Asian shares surge on Europe debt hopes, US data

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