Bloomberg News

Asian Stocks Rise, Paring a Weekly Loss, on ECB Liquity Plan

September 15, 2011

Sept. 16 (Bloomberg) -- Asian stocks rose, paring the regional benchmark index’s decline this week, after the European Central Bank and international policy makers coordinated to lend euro-area banks U.S. dollars, increasing confidence the region’s debt crisis may be contained.

The MSCI Asia Pacific Index gained 1.1 percent to 119.17 as

of 9:12 a.m. in Tokyo. All 10 industry groups on the measure rose, with about 14 stocks advancing for each that felld.

The index this week fell to its lowest level since Aug. 25, 2010, dragging the measure towards its second weekly loss. Concern the global economy was slipping back into a recession amid a worsening European-debt crisis and slowing U.S. growth triggered a 16 percent plunge in the MSCI Asia Pacific Index between this year’s high on May 2 and yesterday.

To contact the reporter on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net


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