Investors were encouraged by news the European Central Bank plans to swap its Greek debt holdings for new bonds once debt-restructuring negotiations are complete, moving Athens a step closer to securing a second bailout package critical to avoiding a default. A batch of U.S. housing, jobless and manufacturing data showing strength in world's biggest economy, which helped send the Dow Jones Industrial Average to its highest close in almost four years, further lifted the mood.
Japan's Nikkei Stock Average rose 2.0%, Australia's S&P/ASX 200 tacked on 0.3%, South Korea's Kospi Composite jumped 1.6% and New Zealand's NZX-50 added 0.2%.
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