Cyprus bailout: Asia stocks bounce back after Cyprus scare
BANGKOK (AP) - Asian stock markets rose on Tuesday, shaking off jitters sparked by a plan to give bank deposits in Cyprus a haircut to help fund the European country's bailout.
Most benchmarks rose modestly while Japan's Nikkei 225 index jumped 2 per cent to 12,467.18 as the yen began to drop against the dollar.
Hong Kong's Hang Seng rose 0.5 per cent to 22,201.93. South Korea's Kospi rose 1 per cent to 1,987.52.
Australia's S&P/ASX 200 advanced 0.2 per cent to 5,023.50. Benchmarks in Singapore, Taiwan and Indonesia rose, while the Philippines dropped.