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The MSCI Asia Pacific Index jumped 1.1 per cent to 120.55 this morning (January 20th), with over two stocks rising for every one that fell, reports Bloomberg.
This means the Asian share gauge has gained 5.9 per cent so far this year, its most positive start since 1988.
Japan's Nikkei 225 Stock Average gained 1.5 per cent, while South Korea's Kospi Index moved up 1.8 per cent, as good news resonated around the Asian market.
Angus Gluskie, managing director at White Funds Management in Sydney, said: "Everyone is breathing a collective sigh of relief as European bond yields come down."
"The US economic data is another bright spot. That's adding to the market momentum," he added.
Good sales at the European debt auctions yesterday encouraged forex traders to invest in the euro, Bloomberg noted.
Posted by Clive Arneil
