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China's euro bond buy spurs stocks

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EU_1 February 15, 2012 (Chinavestor) Chinese stocks advanced in Asia in the wake of China's involvement in solving Europe's debt crisis. Chinese premier Wen Jiabao said that China "will get involved" and will continue to buy euro bonds. This was good news for the markets, sending both key Chinese indices higher on Wednesday. The Shanghai Composite Index (SHA:000001) rose 21.9 points or 0.9% in a broad rally. Stocks that advanced outnumbered those that fell twenty to one among large components of the index.

Similarly to the mainland, investor turned bullish in Hong Kong. The Hang Seng Index (INDEXHANGSENG:.HSI) soared 447.4 points or 2.1% for the day. All but two components of the 42 member index advanced.

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