By Yang Huiwen

ASIAN stock markets rocketed to hit a seven-month high yesterday, inspired by sharp overnight gains on Wall Street.

Investors rushed to sink their money in stocks following encouraging news from the United States housing and banking sectors - two key pillars of the US economy which first triggered the global recession.

Their mood was buoyed by a rise in US homebuilder confidence and a drop in borrowing costs, adding to hopes that the world economy was headed for recovery.

For more The Straits Times stories, click here.

Is this article useful to you?