BANGKOK ? Investors waded into Asian stocks early Thursday, heartened by new efforts by European leaders to strengthen their continent's banks and deal with Greece's massive debts.
Japan's Nikkei 225 index gained 1 percent to 8,824.93 and Hong Kong's Hang Seng index was 1.5 percent higher at 18,601.65. South Korea's Kospi index rose 0.9 percent to 1,825.83.
On Wednesday, European Commission President Jose Manuel Barroso called for a stricter accounting of European banks' exposure to sovereign debt, and a call for banks to hold more capital propelled markets higher. Barroso also called for a permanent bailout fund to come into force by mid-2012, one year ahead of schedule.
Investors also shrugged off Slovakia's rejection Tuesday of a measure to strengthen Europe's bailout fund, focusing hopes that a solution would be found before a summit of EU leaders next week.
In the U.S., meanwhile, companies have begun to release their third-quarter earnings reports, and so far the results have been mixed.
PepsiCo Inc. rose 2.9 percent after the company said its income rose because of stronger sales of snacks and beverages, especially overseas. But Alcoa Inc. dropped 2.4 percent after the aluminum maker reported earnings that were weaker than analysts expected.
The Dow rose 0.9 percent to close at 11,518.85. The S&P 500 rose 1 percent to 1,207.25. The Nasdaq composite index rose 21.70, or 0.8 percent, to 2,604.73.
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