Asian Markets Rally After Draghi Announcement

Implied borrowing costs for Italy and Spain fell after the ECB president outlined his bond buying plan

Asian stock markets have risen, joining a global rally, after the European Central Bank (ECB) unveiled a plan targeted at easing the region's debt crisis.

The ECB said it would buy bonds of the bloc's debt-ridden nations in a bid to bring down their borrowing costs.

The implied borrowing costs for Spain and Italy fell after the announcement.