Asia stocks bounce, upbeat U.S. data soothes nerves

By Wayne Cole
SYDNEY (Reuters) – Asian share markets crept cautiously higher early on Thursday after upbeat U.S. economic data took the sting out of losses in European equities and lifted Wall Street to a firmer finish.
MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> edged up 0.5 percent, having shed 1 percent on Wednesday when fears over European instability swept markets.
Australian stocks <.AXJO> rose 0.7 percent and South Korea <.KS11>