* Equity markets mostly firmer across Asia
* China talks tough on fighting inflation
* Economic data lifts hopes for U.S. growth outlook
By Ian Chua
SYDNEY, Dec 13 (Reuters) - Asian stocks rose on Monday as
investors took in their stride China's latest attempt to cool
inflation and fresh vows to tackle price pressure, while
upbeat U.S. economic data helped
shore up the dollar.
Investors appeared intent on ending the year on a bright
note, with Asia Pacific stocks up some 10 percent so far this
year , outperforming an 8 percent rise in
global equities .
The market was also heartened by U.S. data showing a rise
in consumer sentiment to six-month highs and a 3.2 percent
rise in exports, figures that pointed to a firmer economic
recovery.
MSCI's index for Asia Pacific stocks rose 0.3 percent,
while the index excluding Japan put on 0.45
percent.
The dollar gained ground against a basket of major
currencies . Against the yen, it held near 84.00 ,
not far from a two-month high around 84.40 set recently.
The euro slipped 0.1 percent to $1.3189 , with
worries about debt levels in peripheral euro zone members
casting a shadow on its outlook. Traders still expect the
currency to retest $1.3000 before long.
Chinese leaders said on Sunday they will ratchet up
efforts to quell inflation in 2011 in the wake of data showing
the country's inflation soared past forecasts to a 28-month
high in November.
Ahead of the data, the Chinese central bank raised the
amount of money lenders must keep in reserve for a third time
in a month. Beijing, however, held back from raising interest
rates, a move many analysts still expect will happen.
"Investors are thinking about this issue more sensibly
than they may have done so in the past, realising the broad
growth in the Chinese economy is good and policy makers aren't
over-reacting in terms of trying to slow the economy down,"
said Craig James, chief economist at CommSec.
"At the same time, you've got more optimism on the U.S.
economy."
Australia's S&P 200 index rose 0.4 percent,
Shanghai stock index was up 0.3 percent, while both
South Korea's KOSPI and Japan's Nikkei average
were little changed.
"The market is watching whether there will be another
tightening before the end of the year, but for the time being
the Nikkei will be supported by the weaker yen," said Nagayuki
Yamagishi, a strategist at Mitsubishi UFJ Morgan Stanley
Securities.
Among the best performers were top Australian bank shares,
with investors relieved that reform measures to boost the
sector, unveiled on Sunday, were not harsher.
National Australia Bank and Commonwealth Bank
rose about 0.9 percent. []
(Editing by Miral Fahmy)
