BANGKOK (AP) - Encouraging signs about the U.S. housing market and strong earnings from U.S. tech giant Cisco helped lift Asian stock markets today.
The U.S. government reported that construction of single-family homes dipped last month, but building permits jumped to their highest level since August 2008, a hint of stronger construction in the coming months. Meanwhile, Cisco Systems, the world's largest maker of computer networking equipment, reported earnings that beat expectations.
Markets also took encouragement from remarks by German Chancellor Angela Merkel, who said Thursday that Germany is committed to doing everything it can to maintain the euro currency union.
Benchmark crude oil fell to $95 per barrel. The dollar rose against the euro and the yen.
First Coast News