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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Greek debt plan boosts euro, most Asian shares AFP - Tuesday, April 13 Send IM Story Print Euro finance ministers holding emergency talks on Sunday agreed to fund up to 30 billion euros of emergency loans to debt-stricken Greece, at interest rates of around five percent. Duration: 00:30 HONG KONG (AFP) - – The euro surged Monday after eurozone countries unveiled a massive package to support debt-laden Greece, giving a boost to most Asian shares. Investors were given the ideal start to the week after finance ministers from the 16 countries that share the European currency agreed a three-year 30-billion-euro (41-billion-dollar) plan to provide financial aid. The euro was at 1.3622 dollars in early London trade, up from 1.3497 dollars in New York late on Friday and gained to 127.18 yen from 125.51 yen on Friday. The US dollar fetched 93.28 yen, up from 93.18 Friday. The decision to announce the lifeline, which will see Greece repay the loans at five percent interest, was aimed at soothing markets that have dragged down the euro and forced up Athens' bond yields to 12-year highs. "The euro is firmer as traders took heart from the Sunday announcement of the aid package for Greece," said Daisuke Karakama, forex analyst at Mizuho Corporate Bank. Related article: Greece ditching Euro 'a joke': PM The IMF's role in the package will be discussed on Monday and will include what measures the troubled country would be required to take in order to get the cash. The package is intended as a back-up plan in case Greece is no longer able to raise funds to repay its debts and finance its budget on financial markets because of excessively high interest rates. However, "the initiative for activating the rescue package rests with the Greek government and wed be surprised if they didnt use it in the absence of a sharp fall in borrowing costs," said NAB Capital strategist John Kyriakopoulos. Asian dealers welcomed the move, with Tokyo closing up 0.42 percent, or 47.56 points, at 11,251.90 as exports rallied on the weaker yen. Sydney gained 0.73 percent, to close 36.2 points higher at 4,984.3. It had earlier in the day pushed above 5,000 points for the first time in more than a year. "One factor limiting gains in the Tokyo market is gone. Investors are chasing the market higher," Masumi Yamamoto, market analyst at Daiwa Securities Capital Markets in Tokyo told Dow Jones Newswires. Global shares have been on an upward trend since last month. Wall Street ended at an 18-month high as dealers awaited the start of the company earnings season. It had broken the 11,000 barrier -- for the first time since September 29, 2008 -- just before the closing bell. However, in Hong Kong profit-takers made a move towards the end of trading, leaving the Hang Seng Index 0.32 percent, or 70.33 points, lower at 22,138.17. In Hong Kong Russian metals giant UC Rusal said it swung back into the black in 2009 following a debt restructuring, reporting a net profit of 821 million US dollars. It reported a net loss of 5.98 billion US dollars in 2008. Shares in Rusal, the first Russian company to list in the Chinese financial hub, traded as high as 9.75 Hong Kong dollars on Monday after closing on Friday at 9.40 Hong Kong dollars. Shanghai fell 0.51 percent, or 16.04 points, to 3,129.26. Property developers were weighed by lingering concerns Beijing may introduce further tightening measures to rein in rising real estate prices. Bangkok was 4.8 percent lower in late afternoon trade as fears grew that the country faces further political turmoil after its worst political unrest in almost two decades. Thailand's "anti-government" Red Shirts vowed to press on with their bid to overthrow the government following clashes that left 21 people dead. Oil was higher, with New York's main contract, light sweet crude for May delivery up 34 cents to 85.26 dollars a barrel and Brent North Sea crude for May delivery advancing 41 cents to 85.24 dollars. Gold ended higher at 1,164.50-1,165.50 US dollars an ounce in Hong Kong, up from Friday's close of 1,155.00-1,156.00 dollars. Recommend Send IM Story Print News Search Top Stories Fresh doubts hit Europe's Greek bailout offer UBS reports 2.5 bln francs in quarterly pre-tax profit Greek debt plan boosts euro, most Asian shares Al-Qaeda would use nuclear bomb on US: Obama Euro rises on Greek rescue package More Top Stories » Related Full Coverage Financial falloutLatest news on global credit crunch. All Full Coverage » Most Popular Most Viewed Most Recommended 'All bets are off' if US under WMD attack: Clinton Al-Qaeda would use nuclear bomb on US: Obama American teen aims for Everest record Fresh doubts hit Europe's Greek bailout offer Taiwan's male 'Susan Boyle' a web sensation More Most Viewed » 'Rare' fossil of new dinosaur species found in US Two-million-year-old hominid sheds light on evolution Taiwan's male 'Susan Boyle' a web sensation Junkies and junk-food addicts share craving mechanism Toad is a telltale for impending quakes: scientists More Most Recommended » Elsewhere on Yahoo! 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