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Asian markets mostly up on hopes for US fiscal deal

Published on Nov 19, 2012 7:32 PM

HONG KONG (AFP) - Asian markets mostly rose on Monday on optimism that US lawmakers will be able to agree on a deal to avert a "fiscal cliff" that would tip the world's biggest economy back into recession.

The Nikkei in Tokyo enjoyed a third straight rally due to the yen's weakness after the front-runner to become Japan's next prime minister said he would push for unlimited monetary easing if his party won next month's general election.

Tokyo climbed 1.43 per cent, or 129.04 points, to end at 9,153.20, Sydney rose 0.57 per cent, or 24.6 points, to 4,361.4, and Seoul was up 0.93 per cent, or 17.27 points, to close at 1,878.10.

Hong Kong ended up 0.49 per cent, or 103.35 points, at 21.262.36. Shanghai closed up 0.11 per cent, or 2.25 points, at 2,016.98 after dipping below a key support level to a nearly four-year low earlier in the day.

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