World markers rise amid ongoing Greek debt talks

PanARMENIAN.Net - World markets rose Thursday, Jan 19, as investors grew more comfortable with riskier assets such as stocks after a pledge by the IMF to help stave off a financial crisis and as hopes rose for an agreement on the restructuring of Greece's debt, AP reported.

Benchmark oil rose above $101 per barrel while the dollar fell against the euro and the yen.

Earlier Thursday, Asian shares posted broad gains. Japan's Nikkei 225 index rose 1 percent to close at 8,639.68. South Korea's Kospi rebounded 1.2 percent to 1,914.97 after a losing session Wednesday. Hong Kong's Hang Seng rose 1.3 percent at 19,942.95.

Benchmarks in Singapore and mainland China also rose. Markets in Taiwan were closed for Chinese New Year.

Analysts said investors were becoming more comfortable with taking on risk despite multiple headwinds - including a likely recession in Europe, a possible debt default by Greece and a warning from the World Bank on Wednesday of a possible slump in global economic growth.

Fears that the euro common currency might implode amid a mountain of sovereign debt eased Wednesday after the International Monetary Fund said it was looking at ways to raise another $500 billion for loans to struggling countries.

The IMF has put up roughly a third of the money given as rescue loans to European governments. But analysts cautioned that the crisis was far from over.