(NEW YORK) -- Wall Street and overseas markets are surging Thursday on the heels of a deal reached by euro zone leaders to solve the debt crisis in Europe.
After a lengthy meeting in Brussels, the leaders agreed just before 4 a.m. Thursday to a plan that would require banks to absorb 50 percent of Greece's debt and push Europe's bailout package to 1 trillion euros, or $1.4 trillion.
The news sent U.S. stock futures up ahead of Thursday's opening bell. The day before, as investors anticipated the announcement, Wall Street closed higher on reports that China will invest in Europe's rescue fund. The Dow Jones Industrial Average rose 162 points, the Nasdaq gained 12 and the S&P 500 added 13.
The positive trend continued overseas, with European stocks trading higher Thursday and Asian ones closing up.
Hong Kong’s Hang Seng led the pack, surging 3.26 percent. Australia’s S&P/ASX 200 and Japan’s Nikkei index followed, climbing 2.49 percent and 2.04 percent, respectively. South Korea’s Kospi also added 1.46 percent, while China's Shanghai Composite posted a minimal gain of 0.34 percent.
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