Asia stocks rise over US budget deal optimism

December 18, 2012 • Business

A man checks the electronic stock board of a securities firm in Tokyo, Tuesday, Dec. 18, 2012. Asian stock markets were mostly higher Tuesday, boosted by signs China’s recovery is gaining traction and hopes for a new stimulus in Japan. (AP Photo/Itsuo Inouye)

BANGKOK (AP) — Asian stock markets rose Wednesday after U.S. political leaders appeared to be closing in on a budget deal to avert the “fiscal cliff” by the year-end deadline. Economists have been warning the U.S. economy could be thrown back into recession without a deal.

Japan’s Nikkei 225 index jumped 1.1 percent to 10,034.45. Hong Kong’s Hang Seng index rose 0.7 percent to 22,640.25. Australia’s S&P/ASX 200 advanced 0.3 percent to 4,608.90. Benchmarks in New Zealand, Taiwan, and Malaysia also rose, while those in Singapore and mainland China fell. Stock markets in South Korea were closed for a public Login to read more

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