BANGKOK (AP) - Good news about the U.S. economy helped Asian stock markets rise today, although lingering fears about Europe's ability to tame its debt turmoil kept gains in check.
U.S. government figures showed that durable goods orders rose by 1.1 percent in May after two months of declines. On top of that, a report showed that pending home sales jumped in May, the latest signal that the U.S. housing market may be improving in many regions following a slump of more than six years.
A recovery in the U.S. housing market is considered one of the key elements toward a stable and long-lasting economic recovery and it helped investors brush aside ongoing worries about Europe's debt crisis.
Benchmark crude oil rose above $80 a barrel. The dollar fell against the euro and the yen.
First Coast News