BANGKOK (AP) - Asian stock markets rose again today as expectations remained high for strong European Central Bank action to stem the continent's chronic debt crisis.
Sentiment was also helped by U.S. second quarter growth not slowing as much as feared. The world's No. 1 economy grew just 1.5 percent in the April-June quarter after 2 percent growth the previous quarter but some analysts had predicted a bigger slowdown.
Markets are pregnant with speculation that the ECB will resume buying government bonds to lower the borrowing costs of struggling countries such as Spain and take other major steps to support the region's economy.
Investors hope such moves would prevent Spain from being forced to seek a bailout that would be much more expensive than earlier rescues of Portugal, Greece and Ireland.
Benchmark crude oil rose to just below $91 a barrel. The dollar rose against the euro but fell against the yen.
First Coast News