Asian Stocks Rise on Greece Rescue

Updated from 4:26 a.m. EDT

HONG KONG -- Asian stock markets ended higher Friday after Europe agreed to a rescue plan for Greece if the country's debt crisis deepens. European shares were mixed.

Asian stocks were mixed in early trade before turning higher later in the day, while oil prices rose to near $81 a barrel.

Uncertainty about the fate of Greece, struggling under mountains of debt, has shaken markets in recent months as European countries that share the euro currency failed to come up with a decisive bailout plan.

But on Thursday, Greece won a pledge of financial support from other European countries and the International Monetary Fund, bringing a measure of relief, at least for now, to investors worried about spiraling debt levels on the continent. The deal, which comes with strict conditions and makes no money available to Athens immediately, can only aid troubled eurozone countries if they can't raise funds from financial markets.

Stocks in Europe were mixed. Britain's FTSE 100 dipped 0.09%, while France rose 0.01%.

In Japan, the benchmark Nikkei 225 stock average gained 167.52 points, or 1.6%, at 10,996.37.

Elsewhere, Hong Kong's Hang Seng index rose 252.02, or 1.2%, to 21,030.57 and South Korea's Kospi added 9.33 points, or 0.6%, to 1,697.72.

Wall Street futures pointed to a stronger open in the U.S.

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