Asian stock markets rose Friday, continuing to be buoyed by a European deal aimed at slashing Greece’s massive debt and preventing the crisis from engulfing too big to bailout countries such as Italy.
SINGAPORE (Reuters) – Asian stocks edged up on Friday, as investors chased value picks after recent sharp volatility, though concerns over the European crisis may continue to fuel buying into safe havens like gold and government bonds.
Asian stock markets mostly fell Thursday amid mounting concerns about the health of Europe’s banks and a weakening global economy.
Asian stocks markets were thrown into a tailspin Tuesday as flustered investors fearing a possible global recession continued to flee stocks. Hong Kong slid 6 percent and South Korea at one point plummeted nearly 10 percent.
Asian stocks nose-dived Monday as the first-ever downgrade of the U.S. government’s credit rating jolted the global financial system, reinforcing fears of a rapid slowdown in economic growth.
The euro surged Monday after eurozone countries unveiled a massive package to support debt-laden Greece, giving a boost to most Asian shares.