Asian markets trading firm this morning,the Nikkei in Tokyo was up 1.2% at 13,315 while the Hang Seng in Hong Kong climbed nearly 2% to 22,688. The Kospi in Seoul gained 0.7% to 1578 while the Straits Times in Singapore rose 1.1% to 2917.
Asian stocks rose after better-than- expected earnings from Matsushita Electric and oil prices at a 12-week low eased concern that slowing global growth will hurt earnings. The MSCI Asia Pacific Index gained 1.1% to 131.56 as of 10:57 a.m. in Tokyo. Five stocks rose for each that declined, with nine of the index's 10 industry groups advancing.
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