Asian shares rise after Greek election result

Asian shares rose more than 1.5 per cent today after Greeks narrowly avoided handing an election victory to the anti-bailout Syriza party.

MSCI’s index of Asia Pacific shares outside Japan rose 1.6 per cent and Tokyo’s Nikkei closed up 1.8 per cent, its best finish in nearly a month.

“It’s a temporary rally but we’re seeing broad gains because the global situation has changed now that the prospect of a ‘Drachmageddon’ has disappeared,” said Fumiyuki Nakanishi, general manager of investment and research at SMBC Friend Securities..

On the currency markets the euro was up around 0.6 per cent at $1.2710.