HONG KONG: Most Asian markets rose for a second day Friday after Greece submitted new debt reform plans and fears over a Chinese rout subsided as Shanghai stocks surged again. The euro edged higher as investors bet that Athens´ new proposals will be enough to placate its creditors and get
By our correspondents
July 11, 2015
HONG KONG: Most Asian markets rose for a second day Friday after Greece submitted new debt reform plans and fears over a Chinese rout subsided as Shanghai stocks surged again. The euro edged higher as investors bet that Athens´ new proposals will be enough to placate its creditors and get the green light at a European Union summit at the weekend. Shanghai rallied 4.54 percent, or 168.47 points, to 3,877.80 after surging almost six percent Thursday as Chinese authorities beefed up measures to staunch a sell-off that has wiped trillions off mainland markets. The gains came after China moved to stop "major" shareholders -- those holding at least a five percent stake -- from selling their stocks and launched a probe into short-selling in a bid to calm markets.
