BANGKOK (AP) - Asian markets rose today as investors grew more comfortable with riskier assets such as stocks after the release of surprisingly strong U.S. housing figures and a pledge by the IMF to help stave off a financial crisis.
Analysts said investors were becoming more comfortable with taking on risk despite multiple headwinds. Those include a likely recession in Europe, a possible debt default by Greece and a warning from the World Bank on Wednesday of a possible slump in global economic growth.
Fears that the euro common currency might implode amid a mountain of sovereign debt eased Wednesday after the International Monetary Fund said it was looking at ways to raise another $500 billion for loans to struggling countries.
Benchmark crude oil rose above $101 per barrel while the dollar fell against the euro and the yen.
First Coast News