Asian markets rise, led by Philippines and Singapore

While there is still no sign that the global economy is getting out of its recent slowdown (see "Still no clear indication on world economy"), some stock markets in Asia seem to be anticipating an upturn of sorts.

Today, with most Asian stock markets rising, the Philippine Stock Exchange Composite Index posted the biggest percentage advance, rising 2.3 percent to 1671.76. Singapore’s Straits Times Index rose 1.24 percent to close at 1,961.47. Both markets are at their highest levels since February 2001.