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Asian stocks gain

6:40 AM, Dec 12, 2012   |    comments
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BANGKOK (AP) - Expectations that the Federal Reserve will announce a new stimulus plan to help bring life to a lethargic U.S. economy boosted Asian stock markets today as investors brushed off North Korea's latest test launch of a long-range rocket.

Japan, meanwhile, protested North Korea's launch and was convening its security council to analyze the situation. Rocket tests are seen as crucial to advancing North Korea's nuclear weapons ambitions. Officials in Washington, Seoul, Tokyo and elsewhere have been urging North Korea to cancel the liftoff.

Investors were also encouraged by a German business confidence survey released Tuesday, which alleviated concerns that Europe's largest economy might fall into recession.

Benchmark crude oil rose to near $86 per barrel. The dollar rose against the euro and the yen.







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