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Daily Report: EU Announced 750b Fund Package, ECB to Buy Government Bonds, Market Sentiments Lifted
Asian markets are broadly lifted as EU announced an unprecedented loan package that worth as much as EUR 750b to prevent spreading of sovereign debt crisis in the region. In addition, ECB announced measures to address "severe tensions" in financial markets which include purchase of government bonds in the secondary market. Nikkei rebounds 1.43% while crude oil is up over 2% to press 77 level. Dollar and yen are generally lower as risk aversion eases with dollar index trading at around 83.5 level.