Markets rally as Italy asks China for bailout help

Stocks in the US and Asia rallied overnight after Italy turned to China for help with its debt crisis.

According to reports, Italy has held talks with China about the super-power purchasing Italian government bonds, and investments in key companies in the region, in a move it hopes will keep a lid on spiking yields. The Financial Times said Italian officials had revealed Lou Jiwei, chairman of China Investment Corp, one of the world's largest sovereign wealth funds, had led a delegation to Rome last week for talks with Giulio Tremonti, finance minister. Italian officials have also travelled to Beijing in the last two weeks to meet CIC and China's State Administration of Foreign Exchang...