Asian Market Update : Epic Research Malaysia

Asian shares edged up on Thursday on vague hopes of a rescue deal for Greece while the dollar was at the helm in currency markets on expectations that the US Federal Reserve will raise rates later this year.

Japan's Nikkei rose 0.6 percent while MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, with South Korean shares leading the gain with a rise of 0.5 percent.

"It seems like hopes on Greece drove the market. I expect the stock markets to stay supported on the back of recovery in the global economy," said Hirokazu Kabeya, senior strategist at Daiwa Securities.
Although there are conflicting reports on the state of talks between Athens and international creditors, investors are pinning their hopes on a last-minute agreement as has been the case since the country's debt crisis began more than five years ago.

Greek officials voiced optimism for a cash-for-reforms deal on Wednesday, with economy minister George Stathakis saying Greece and its international creditors have converged on key points.

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