PLEASE NOTE: EDIT CONTAINS CONVERTED 4:3 MATERIAL

TV news bulletins around Asia were buzzing with the outcome of the Greek election.

Victory for a party in favour of an international bail out to stave off national bankruptcy is being broadly welcomed.

SOUNDBITE: EMELIA ADAMS, NEWS READER, NINE NEWS, SAYING (English):

"Voters have this morning chosen to stay in the euro under the guidance of the New Democracy Party in a narrow victory in the country's election."

SOUNDBITE: ROS CHILDS, NEWS READER, ABC, SAYING (English):

"There's relief in Europe as Greek voters have chosen to remain in the euro zone but it was a narrow victory for the parties committed the country's international bailout."

In Japan the chief cabinet secretary said the situation was one to keep a close eye on.

SOUNDBITE: OSAMU FUJIMURA, JAPAN'S CHIEF CABINET SECRETARY, SAYING (Japanese):"

"Regarding the alliance negotiations taking place from now, we believe it necessary to watch the situation carefully. In the early stages, with the launch of a stabilised administration, we're looking forward to developments in the market taking a turn towards stabilisation."

Official results with 97 per cent of votes counted gave the pro-bailout New Democracy Party 29.7 per cent.

It's now looking to form a coalition with other like-minded parties.

The rival Syriza bloc which wants to pull out of the bailout deal took 27 per cent.

Paul Chapman, Reuters