Markets buoyed by Spanish debt sale

Asian stock markets rebounded today after a slew of solid earnings boosted the outlook for US companies and a successful Spanish bond auction eased worries over Europe's debt crisis.

Japan's Nikkei 225 index jumped 1.7% to 9,622.39. South Korea's Kospi added 0.9% to 2,003.03 and Australia's S&P/ASX 200 rose 1.2% to 4,339.40.

Hong Kong's Hang Seng gained 0.9% to 20,750.55. Benchmarks in Singapore, Taiwan and Indonesia also rose.

Yesterday, European stocks had their best day in four months after Spain attracted strong investor interest at an auction of two-year debt.

The government sold more than €3.2bn in short-term debt, more than had been expected, and the yield on Spain's 10-year government bond fell, a sign of improving confidence in the country's finances.

"This saw investors less pessimistic about Europe and lifted risk assets all round," said Stan Shamu, analyst with IG Markets in Melbourne.