World stocks mostly up after Ireland bailout news

November 22, 2010 12:29
1 minute read.

BANGKOK — World stock markets were mostly higher Monday after debt-hobbled Ireland applied for a massive EU emergency loan to bail out its banking sector, easing fears Europe's debt woes will escalate.

Oil prices rose to near $83 a barrel, while the euro gained against the dollar. The yen also rose against the greenback.

In Europe, Britain's FTSE 100 was up 0.6 percent at 5,767.94 and Germany's DAX gained 0.8 percent to 6,897.30. France's CAC-40 added 0.9 percent to 3,895.34. Wall Street was set to go higher at the opening bell, with Dow futures up 0.4 percent to 11,220.

Japan's Nikkei 225 stock average closed 0.9 percent higher, or 92.80 points, at 10,115.19 and South Korea's Kospi rose 0.2 percent to 1,944.34. Australia's S&P/ASX 200 added 0.3 percent to 4,643.5. Benchmarks in India, Taiwan and Thailand also rose.

But Hong Kong bucked the trend, with the Hang Seng index falling 0.4 percent to 23,524.02 amid losses in property stocks after new measures to stem speculation. Singapore's benchmark also fell.

Chinese shares closed mixed in weak trading, as investors awaited further policy moves from the central government's upcoming economic work conference after inflation last month hit a 25-month high.

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