Asian markets rally over expected Spanish bank bailout

Asian markets rally over expected Spanish bank bailout

POSTED: Monday, June 11, 2012 - 8:30am

UPDATED: Monday, June 11, 2012 - 8:34am

Asian markets rallied monday on hopes of an expected Spanish bank bailout. Monday Eurozone finance ministers agreed to lend Spain as much as $125 billion to shore up its struggling banks.

The news was applauded by investors, Tokyo's Nikkei average closed nearly 2% up. The broader Topix was also higher, closing 1.7%. Hong Kong's Hang Seng finished the day nearly 2.5% higher.

 

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