Posted AT 3:03 AM EST on 08/09/08
Asian stocks jump on U.S. bailout
TOKYO — Asian stock markets soared Monday after Washington announced a bailout of mortgage giants Fannie Mae and Freddie Mac — a move that could help bolster a shaky U.S. housing market and renew global investor confidence.
Japan's benchmark Nikkei 225 stock index was up more than 414 points, or 3.4 per cent, at 12,627.07 in afternoon trading in Tokyo.
Seoul's Kospi index was up 5.
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