Stocks rise after Greek u-turn

Asian stock markets rose sharply today, a day after Greece’s prime minister abandoned a referendum on the country’s bailout and the European Central Bank cut interest rates in a surprise move.

Japan’s Nikkei 225 index rose 1.3% to 8,750.76 and Hong Kong’s Hang Seng jumped 3.1% to 19,840.45. South Korea’s Kospi gained 2.8% to 1,921.94.