Asia stocks jump on EU deal

Written by Bloomberg | Updated: Oct 28 2011, 10:24am hrs
Asian stocks rose, sending the benchmark index toward the highest close in almost eight weeks, after European leaders made a breakthrough in resolving the debt crisis and Chinese stocks surged on speculation the country may ease monetary policy. Esprit Holdings, a clothier that gets 79% of its revenue in Europe, jumped 6.8% in Hong Kong. China Overseas Land & Investment, a builder controlled by the mainlands construction ministry, soared 12% to HK$14.70. Komatsu, Japans largest construction machinery maker, gained 4% after orders for US durable goods excluding transportation equipment increased.