MarketWatch | Asian Markets at Close Report (December 17, 2012).: Asia stocks advance on U.S. debt-pact hopes
By Sarah Turner and V. Phani Kumar , MarketWatch HONG KONG (MarketWatch) — Most Asian stocks climbed Tuesday on signs of progress in U.S. budget talks to avert the fiscal cliff, with exporters and financial firms driving Japanese shares to their highest level in more than eight months. “Investors underweight equities are becoming more anxious about being left behind if there is a reasonable outcome to the U.S. fiscal cliff negotiations,” said Ric Spooner, chief market analyst at CMC Markets. The Nikkei Stock Average JP:100000018 +0.96% rose 1% to 9,923.01, a closing level not seen since early April. The advance builds on gains from the previous session, when a landslide election victory for the Liberal Democratic Party (LDP) sparked fresh optimism for the introduction of deflation-fighting policies. South Korea’s Kospi