A man checks his cell phone outside a securities firm in Tokyo, Tuesday, March 5, 2013. A man stretches out near electric board displaying world stock market update at Tokyo Stock Exchange in Tokyo, Tuesday, March 5, 2013. A currency trader looks on the computer monitors at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Tuesday, March 5, 2013. Asian stock markets rose Tuesday as investors registered approval for China's spending priorities announced at its annual congress. A currency trader works near a screen showing the foreign currency rates at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Tuesday, March 5, 2013. A currency trader looks at the computer monitors at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Tuesday, March 5, 2013. AMSTERDAM (AP) - World stock markets rose Tuesday as investors applauded China's pledge to stick to growth targets for its economy, the world's second largest. At the ruling Communist Party's annual congress, outgoing Premier Wen Jiabao said the government would spend what it needs to meet the economic growth target of 7.5 percent enshrined in the latest five-year development plan. "Asian stocks are very much on the front foot, buoyed by expectations of continuing (easy central bank monetary policies) around the globe and China maintaining its economic growth target for the year," said analysts from Charles Stanley in a note on markets. European markets, including bond prices, were also buoyed by a sharp rise in eurozone retail sales. They grew 1.2 percent in January from the previous month, far above the 0.2 percent investors were expecting. Economists said the gain was likely fueled by post-holiday discounts and warned consumer spending is unlikely to remain that strong in coming months. By late morning in Europe, Germany's DAX was up 1.6 percent to 7,816.67 while France's CAC-40 was 1.4 percent higher at 3,760.28. Britain's FTSE 100 rose 0.7 percent to 6,389.41. Wall Street was poised to open higher, with Dow Jones industrial futures rising 0.3 percent to 14153 and S&P 500 futures advancing 0.2 percent to1529. Earlier in Asia, Hong Kong's Hang Seng rose 0.1 percent to 22,560.50. The mainland's Shanghai Composite Index jumped 2.3 percent to 2,326.31 and the Shenzhen Composite Index added 2.3 percent to 964.68 after Wen's pledge to support growth. In his speech, Wen mentioned subsidies for agriculture and energy conservation. He also pledged to relax the credit supply, analysts said. The Nikkei 225 index advanced 0.3 percent to 11,683.45, its highest close since September 2008. Australia's S&P/ASX 200 gained 1.3 percent to 5,075.40 amid bargain-hunting after a sharp sell-off the day before. Looking ahead, investors will keep an eye on budget negotiations in Washington. Those cuts slash $85 billion from the nation's budget, which is expected to be a drag on the economy. In commodity markets, the benchmark oil contract for April delivery was up 38 cents or 0.4 percent to $90.45 per barrel in electronic trading on the New York Mercantile Exchange. In currencies, the dollar was weaker as the euro rose to $1.3043 from $1.3022 late Monday in New York. The dollar also fell against the Japanese yen, to 93.15 yen from 93.42 yen. AP Business Writer Pamela Sampson contributed to this story from Bangkok.