WELLINGTON: Asian stocks are set for a solid start to the new quarter on Friday as positive economic data and a temporary solution to Greece's debt crisis left investors buoyant.
The main Wall Street indices closed as much as 1.3 percent higher, capping the best four day run since September.
Midwest U.S. business activity showed surprising strength during June, lifted by new orders, helping calm concerns about the economy that have weighed on markets for two months.
All 10 S&P business sectors rose, led by industrials, up 1.7 percent, and information TECHNOLOGY [], up 1.4 percent.
Gains were also boosted as fund managers looked to add winning stocks to their portfolios ahead of the quarter and month end.
Asian stocks listed on Wall Street rose 1.34 percent while world stocks, as measured by the MSCI world equity index, were up 1.3 percent to their highest level in a month, and the Thomson Reuters global stock index was 1 percent higher.
British shares rose 1.5 percent while European ''shares added 1.1 percent as Greek lawmakers approved additional austerity and privatisation measures to ensure it would get its next round of bailout funds.
The euro climbed further against the U.S. dollar, helped by expectations of a rate rise by the European Central Bank when it meets next week.
Japanese markets are set to rally, with Nikkei futures traded in Chicago 80 points above the last closing level in Osaka.
Australian stocks will benefit from higher metal prices as well as the overall mood, with share price index futures up 0.4 percent to a 12 point premium to the close of the underlying S&P/ASX 200 index. ' Reuters
The main Wall Street indices closed as much as 1.3 percent higher, capping the best four day run since September.
Midwest U.S. business activity showed surprising strength during June, lifted by new orders, helping calm concerns about the economy that have weighed on markets for two months.
All 10 S&P business sectors rose, led by industrials, up 1.7 percent, and information TECHNOLOGY [], up 1.4 percent.
Gains were also boosted as fund managers looked to add winning stocks to their portfolios ahead of the quarter and month end.
Asian stocks listed on Wall Street rose 1.34 percent while world stocks, as measured by the MSCI world equity index, were up 1.3 percent to their highest level in a month, and the Thomson Reuters global stock index was 1 percent higher.
British shares rose 1.5 percent while European ''shares added 1.1 percent as Greek lawmakers approved additional austerity and privatisation measures to ensure it would get its next round of bailout funds.
The euro climbed further against the U.S. dollar, helped by expectations of a rate rise by the European Central Bank when it meets next week.
Japanese markets are set to rally, with Nikkei futures traded in Chicago 80 points above the last closing level in Osaka.
Australian stocks will benefit from higher metal prices as well as the overall mood, with share price index futures up 0.4 percent to a 12 point premium to the close of the underlying S&P/ASX 200 index. ' Reuters
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