Asian markets surged, on Tuesday, on reports that European policy makers are considering new plans to support European countries struggling with debt. So Japan's Nikkei rose 2.8%; Hong Kong's Hang Seng soared 4.2%; China's Shanghai Composite index rose 0.9%; South Korea's Kospi index zoomed 5% and Singapore's Strait Times index rose 2.7%.European bourses also logged big gains.Speculation grew that the European Central Bank will cut its key cash rate when it meets next week, and that a plan may be introduced to help shore up the finances of struggling members of the monetary bloc. That plan would reportedly include a massive increase in the funds available for lending via the European Financial Stability Fund.Selected banks may be recapitalized as well. In Europe, So London's FTSE-100, France's CAC and Germany's DAX were up by between 2.4% and 3.5% in intra-day trade, on Tuesday.