* EU pledge to support Greece boosts Asia, U.S. stocks
* But euro eases on lack of detail on Greece aid plan
* Charts point to recovery in Asian ex-Japan stocks
By Kevin Yao
SINGAPORE, Feb 12 (Reuters) - Asian shares rose on Friday
as investors took comfort from the EU's pledge to support
debt-ridden Greece, but the euro faltered on disappointment
that no concrete proposals were offered to pull Athens out of
its deficit spiral.
Any detailed proposals for Greece are likely to be
discussed by EU finance ministers at meetings in Brussels early
next week, and the Greek government could still baulk if aid is
linked to it adopting even tougher fiscal austerity measures.
The MSCI index of Asian stocks traded outside Japan
<.MIAPJ0000PUS> rose 0.4 percent, while the Nikkei <.225>
gained nearly 1 percent, catching up with other global markets
after a holiday on Thursday.
Trade was thin, however, ahead of long Lunar New Year
holidays next week in China, Hong Kong, Taiwan, Singapore and
South Korea.
U.S. stocks rose as much as 1.4 percent overnight as the
European Union's support for Greece eased fears of a broader
euro zone crisis and on data showing a dip in U.S. weekly
jobless claims. []
Shares of resource firms led gains in many Asian markets as
metal prices rose on positive Chinese growth data. China on
Thursday reported strong loan growth in January, while consumer
inflation moderated more than expected. []
Japan's Mitsubishi Corp <8058.T> rose 3.1 percent while
global miners BHP Biliton <BHP.AX> and Rio Tinto <RIO.AX> rose
1 percent and 2.8 percent, respectively.
Charts point to near-term rebound in Asian stocks, which
found support near the 200-day moving average, as a bullish
cross in the slow stochastics gave an early signal of a MACD
cross.
But investors were treading cautiously after recent sharp
sell-offs.
The euro eased against major currencies on disappointment
among investors over the lack of details from the European
Union on a Greece rescue plan. The single currency <EUR=>
hovered near $1.3670, slightly below late Thursday levels.
Greece's ballooning deficit and debt have reverberated
across financial markets in recent months, hitting the euro
<EUR=>, regional banking stocks and some government bonds, and
prompting many investors to pull back from riskier assets
worldwide.
Emerging market equity funds suffered net outflows in the
week ended Feb. 10, largely as a result of jitters over
Greece's fiscal crisis, Boston-based fund tracker EPFR Global
said on Thursday. []
Emerging market equity funds had net outflows of $2.9
billion, with $1.76 billion - a 60-week high - coming just from
the diversified global emerging markets equity funds (GEM)
category, according to EPFR.
Gold dropped after rising to a one-week high the previous
day as the euro softened, while oil <CLc1> eased 40 cents to
below $75 a barrel, pressured by a firmer U.S. dollar.
(Editing by Kim Coghill)
