Asia stocks up as Wall Street cheers housing data

2012-01-19 Font size:T | T

BANGKOK (AP) -- Asian stock markets rose Thursday as investors grew more comfortable with risk assets after surprisingly strong U.S. housing figures helped power Wall Street to its highest close since July.

Japan's Nikkei 225 index jumped 1.3 percent to 8,659.86. South Korea's Kospi rebounded 1.1 percent to 1,912.38 after a losing session Wednesday. Hong Kong's Hang Seng rose 1.1 percent at 19,893.66. Australia's S Poor's 500 index closing above 1,300 for the first time since July 28, and the Dow Jones industrial average finishing at its highest since July 25.

The National Association of Home Builders index, a measure of sentiment among builders, rose to its highest level since June 2007 as sales jumped. The index is rising, however, because builders are seeing a rise in people shopping for a home, not because they are seeing more sales.

Separately, the Federal Reserve said manufacturing rose 0.9 percent from November to December, the biggest gain since December 2010.

The Dow finished up 0.8 percent at 12,578.95.

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