MARKETS-ASIA/OPEN Asian shares rise as Greek deal gets cautious nod

Record ID: 146533

  • Title: MARKETS-ASIA/OPEN Asian shares rise as Greek deal gets cautious nod
  • Date: 14th July 2015
  • Summary: TOKYO, JAPAN (JULY 14, 2015) (REUTERS) TOKYO STOCK EXCHANGE (TSE) BUILDING SIGN READING (English): "JPX, TOKYO STOCK EXCHANGE" ELECTRONIC STOCK BOARD ALARMING AT OPENING OF MARKET ELECTRONIC STOCK BOARD SHOWING NIKKEI AVERAGE OPENING AT 20355.33 UP 265.56 ELECTRONIC STOCK BOARD BEING UPDATED VARIOUS OF TSE STAFF WORKING VARIOUS OF ROTATING STOCK PRICE TICKER TSE MARKET CEN
  • Embargoed: 29th July 2015 13:00
  • Keywords:
  • Location: Australia
  • Country: Australia
  • Topics: General
  • Reuters ID: LVAAPRBC1YC14AL4X6HKJ9ZXKDVA
  • Aspect Ratio: 16:9
  • Story Text: Asian shares rose on Tuesday (July 14) on hopes that Greece's conditional bailout agreement would bring to an end that country's debt crisis, though caution kept broad gains in check.
    After a regular cabinet meeting on Tuesday, Japanese Economics Minister Akira Amari welcomed the euro zone reaching a deal for Greece.
    "I believe the deal will give confidence to global markets," Amari told reporters, adding that the Greek government must now find more aggressive ways to fund itself.
    "Greece must find ways to increase tax revenues through means besides tax hikes, such as privatization or disposal of state-owned facilities," he said.
    Japan's Nikkei stock index rose 265.56 points to 20355.33 at the opening of trade. The broader Topix rose 24.13 points to 1637.64.
    Meanwhile, South Korean shares opened slightly higher on Tuesday, with the Korea Composite Stock Price Index (KOSPI) up 0.43 percent, to 2,070.44, from the previous close.
    Hong Kong's benchmark Hang Seng index, however, opened flat with a slight dip of 0.03 percent at 25216.42.
    As of 0130 GMT, the Shanghai Composite Index was down 12.02 points at 3958.37. The Shenzhen Component Index was up 182.33 points at 12796.49.
    Australian shares rose 1.74 percent on broad-based gains as investors' confidence that Greece would not leave the Euro rose. The S&P/ASX 200 index rose 95.530 points to 5,568.700 by 0138 GMT.
    Greece's Prime Minister Alexis Tsipras will face a showdown with members of his own party later on Tuesday, over the agreement under which Greece can get a possible 86 billion euros ($95 billion) over three years if it can satisfy its European partners that it is meeting their conditions.
    The terms imposed by Athens' international lenders led by Germany obliged Tsipras to abandon his pledge to end austerity.
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