Asian shares rose driven by European bailout

Asian shares rose for the first time in a week due to speculation the bailout to help European countries telilit widening debt crisis prevention efforts in this area. U.S. Futures shares also rose.

Mitsubishi UFJ Financial Group Inc., Japan's largest bank by market value rose by 1.1% in Tokyo and Nomura Holdings Inc., Japan's largest brokerage, rose 1.5%.

Shares of BHP Billiton Ltd., The world's largest mining company, rose by 1.7% in Sydney. Panasonic Corp., Producer of the world's largest plasma television, a decrease of 2.4% after its net profit forecast missed analyst estimates.

The MSCI Asia Pacific Index rose as much as 0.6% to 119.07 at 9:49 pm Tokyo time, with more than double the share rising from the stock falls. Six of the ten industries listed in the index increases. Stocks futures on the Standard & Poor's 500 Index rose by 2.1%.

Finance ministers of the European Union entered into an agreement to set up emergency loan funds amounting to 440 billion euros, 60 billion euros will be taken directly from the EU budget, according to three officials who attended the meeting in Brussels.

Additional funds will be provided by the International Monetary Fund (IMF), but the three officials did not provide details of the amount.

Nikkei 225 Stock Average rose by 0.7%, South Korea's Kospi rose by 1.1% and S & P / ASX 200 rose by 1.3%.

S & P 500 fell 1.5% on May 7 and then after fears of the worsening debt crisis that could trigger goyahnya European confidence in the trading mechanisms in financial sector

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