World Markets Rise as Investors Watch Europe World markets rose Tuesday as traders watched for a possible deal to cut Greece's debts and Japanese factory output rebounded. Benchmark oil rose above $99 per barrel while the dollar fell against the euro and was unchanged against the yen. Tokyo's Nikkei 225 rose 0.1 percent to 8,802.51 after data showed December industrial activity rose 4 percent over the previous month. Hong Kong's Hang Seng gained 1.1 percent to 20,383.3 and Seoul's Kospi was up 0.8 percent at 1,955.79. In Europe, France's CAC-40 added 0.8 percent to 3,292.38, rebounding from a 1.6 percent loss Monday. Germany's DAX gained 0.5 percent to 6,473.96, reversing a 1 percent decline a day earlier. Britain's FTSE 100 rose 0.6 percent to 5,703.94. Wall Street was also set to open higher, with Dow Jones industrial futures rising 0.4 percent at 12,649 and S&P 500 futures 0.4 percent higher at 1,313.80. Traders watched Europe following reports Greece and its creditors were close to a deal to cut its debts. China's benchmark Shanghai Composite Index was up 0.3 percent at 2,292.61 ahead of Wednesday's release of a key manufacturing index. Investors are hoping for a loosening of credit curbs if it shows activity is slowing amid lackluster global demand. India's Sensex gained 1.5 percent to 17,109.30 while Australia's S&P/ASX 200 fell 0.2 percent to 4,262.70. Benchmarks in Taiwan, Thailand, Indonesia and India rose while Singapore and New Zealand fell. Borrowing costs for the most indebted European countries shot higher. Benchmark oil for March delivery gained 98 cents to $99.76 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 78 cents to end at $98.78 per barrel on the Nymex on Monday. In currencies, the euro rose to $1.3207 from $1.3114 late Monday in New York.