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Asian Markets Track Wall Street Rally

Writer's picture: By The Financial DistrictBy The Financial District

Asian shares advanced on Monday, reflecting Wall Street’s strong finish last week, while U.S. futures and oil prices remained steady, Elaine Kurtenbach reported for the Associated Press (AP).


Hong Kong’s Hang Seng surged 2.3% to 20,041.09 after China’s central bank left its key lending rates unchanged.



Hong Kong’s Hang Seng surged 2.3% to 20,041.09 after China’s central bank left its key lending rates unchanged, and the Shanghai Composite Index rose 0.5% to 3,257.24.


Meanwhile, Tokyo’s Nikkei 225 climbed 1.2% to 38,914.60, with the yen strengthening slightly to 156.02 against the dollar on expectations of a potential interest rate hike by Japan’s central bank.



Other markets showed modest gains: South Korea’s Kospi remained flat at 2,524.12, while Australia’s S&P/ASX 200 rose 0.5% to 8,354.90. Taiwan’s Taiex and India’s Sensex edged up 0.5% and 0.2%, respectively, with Bangkok’s SET gaining 0.3%.


In the U.S., the S&P 500 climbed 1% on Friday to close at 5,996.66, marking its first winning week in three. The Dow Jones Industrial Average rose 0.8% to 43,487.83, while the Nasdaq composite rallied 1.5% to 19,630.20.




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