Asia stocks surge on ECB move, oil rallies on Saudi king death

[Wireless News]

http://l3.yimg.com/bt/api/res/1.2/nTYo3sClVzaORhUyFIfudw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/afp.com/6eeeb3d977543171817f2433f87fa97ca7d04093.jpg (http://news.yahoo.com/asia-stocks-surge-ecb-move-oil-rallies-saudi-032801833.html)Asian equity markets rallied Friday after the European Central Bank announced a huge cash injection to kickstart the eurozone economy, while crude prices surged on news the monarch of oil kingpin Saudi Arabia had died. The ECB's unprecedented decision to pump tens of billions of dollars a month into financial markets sent the euro plunging to 11-year lows against the dollar and also fuelled a buying spree in US and European stock markets. Tokyo jumped 1.05 percent, or 182.73 points, to 17,511.75 and Sydney added 1.51 percent, or 81.86 points, to 5501.80, with energy firms lifted by the stronger oil prices. In afternoon trade Hong Kong was 1.28 percent higher and Shanghai added 1.20 percent.



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