Investing.com - Asian stocks moved higher on Tuesday after EU and IMF policymakers struck a deal on Greek debt-reduction targets in a move that will free up financial aid for the country and steer Athens away from pending default.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was up 0.19%, Australia's S&P/ASX200 was up 0.72%, while Japan’s Nikkei 225 Index was up 0.26%.
Greece's EU and IMF creditors agreed to reduce the country's debt-reduction target by EUR40 billion to 124% of gross domestic product by 2020, an accord needed to free up aid.
Furthermore, Greece will cut debt burdens down further to 110% by 2022, while EU and IMF policymakers agreed to trim interest rates on Greek loans, extend their maturity by 15-30 years, and grant the country a 10-year interest repayment deferral.
The news sparked a wave of relief buying across Asian equities markets on sentiments that Greece will avoid a messy default and exit from the eurozone for now.
In Hong Kong, top gainers included China Resources, up 2.52%, China Merchant Holdings, up 1.61%, and CHALCO, up 1.21%.
In Australia, top gainers included Intrepid Mines, up 17.24%, CSL Ltd., up 6.99%, and Iluka Resources Ltd., up 6.73%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.08%, while Germany's DAX 30 futures pointed to a gain of 0.33%. Meanwhile in the U.K., FTSE 100 futures were up 0.11%.
Dow Jones Industrial Average futures were up 0.12%, while the S&P 500 futures were up 0.02%.
Investors will focus on the U.S. later Tuesday.
Official data on durable goods orders is due for release as well as industry data on house price inflation.
In addition, the Conference Board is to publish data on U.S. consumer confidence, while Federal Reserve Chairman Ben Bernanke is to deliver brief remarks at the National College Fed Challenge Finals, in Washington D.C.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was up 0.19%, Australia's S&P/ASX200 was up 0.72%, while Japan’s Nikkei 225 Index was up 0.26%.
Greece's EU and IMF creditors agreed to reduce the country's debt-reduction target by EUR40 billion to 124% of gross domestic product by 2020, an accord needed to free up aid.
Furthermore, Greece will cut debt burdens down further to 110% by 2022, while EU and IMF policymakers agreed to trim interest rates on Greek loans, extend their maturity by 15-30 years, and grant the country a 10-year interest repayment deferral.
The news sparked a wave of relief buying across Asian equities markets on sentiments that Greece will avoid a messy default and exit from the eurozone for now.
In Hong Kong, top gainers included China Resources, up 2.52%, China Merchant Holdings, up 1.61%, and CHALCO, up 1.21%.
In Australia, top gainers included Intrepid Mines, up 17.24%, CSL Ltd., up 6.99%, and Iluka Resources Ltd., up 6.73%.
European stock futures indicated a higher opening.
France's CAC 40 futures pointed to a gain of 0.08%, while Germany's DAX 30 futures pointed to a gain of 0.33%. Meanwhile in the U.K., FTSE 100 futures were up 0.11%.
Dow Jones Industrial Average futures were up 0.12%, while the S&P 500 futures were up 0.02%.
Investors will focus on the U.S. later Tuesday.
Official data on durable goods orders is due for release as well as industry data on house price inflation.
In addition, the Conference Board is to publish data on U.S. consumer confidence, while Federal Reserve Chairman Ben Bernanke is to deliver brief remarks at the National College Fed Challenge Finals, in Washington D.C.