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Stocks rise as Greece fears dwindle

Asian stock markets have edged higher as the threat of an imminent meltdown in debt-swamped Greece receded.

Greece held a sale of short-term treasury bills that will help it make a crucial debt repayment at the end of the week.

Without the sale, Athens would have found it impossible to repay the five billion euro treasury bill maturing on Friday, the day on which prime minister Antonis Samaras has said Greece would run out of money.

Analysts at Credit Agricole CIB in Hong Kong called the auction of 4.06 billion euros in bills a success and said that it "added to the positive tone" helping to boost stocks.

Japan's Nikkei 225 index rose 0.1% to 8,670.67. Hong Kong's Hang Seng added 0.6% to 21,321.15 and Australia's S&P/ASX 200 gained 0.2% to 4,387.60. South Korea's Kospi fell 0.1% to 1,887.62.

Benchmarks in Taiwan, Indonesia and the Philippines also rose. Singapore and Malaysia fell.


From Belfast Telegraph