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DateLine Tuesday, 24 March 2009

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Asian stocks rise

Asian stocks rose strongly Monday ahead of a US announcement to buy up as much as $1 trillion in toxic bank assets and as Japan signaled more stimulus measures to resuscitate the world's second-largest economy.

Tokyo shares led the region's gains, with the country's benchmark hitting a six-week high, after Japan's finance minister said aggressive public spending to the tune 20 trillion yen ($208 billion) might be needed to end the country's painful recession.

Investors also were eyeing the US, where the Obama administration is set to unveil Monday its latest effort to heal the hard-hit financial sector and restore bank and consumer lending. HONG KONG (AP)

 

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