Asian stock markets were higher Monday, lifted on news the European Union finance ministers had agreed to put together a plan to ensure stability in the euro zone.
Some appetite for risk was back in markets after heavy selloffs in recent sessions as European officials announced a 500 billion euro ($643 billion) support plan for euro-zone states facing financing trouble.
Of this money, 440 billion euros will come from a series of loans made by euro-zone governments, an additional 60 billion euros would come from surplus funds in the EU's 2007-2013 budget and the International Monetary Fund could contribute up to 250 billion euros as well.
Source: wsj
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