SINGAPORE – World stock markets rebounded Wednesday following steep losses, but investors in Asia traded with caution on growing fears that Europe's debt crisis could hamper global economic growth.
Global stocks tumbled Tuesday amid jitters that austerity measures by European nations, including Spain and Italy, will not be enough to fix the region's fiscal problems, and such cost-cutting steps could stifle global economic growth.
In Asia, Japan's benchmark Nikkei 225 stock average rose 0.7 percent to 9,522.66 after tumbling 3.1 percent to a six-month low Tuesday.
South Korea's Kospi index gained 1.4 percent to 1,582.12 while Australia's S&P/ASX 200 index was up 1 percent at 4,307.20.
Hong Kong's Hang Seng index rose 1.1 percent to 19,196.45. Benchmarks in mainland China, Singapore, India, Indonesia and Taiwan also gained.
http://news.yahoo.com/s/ap/20100526/ap_on_bi_ge/world_markets
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