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Japan stocks lift Asian market higher after US retail data boost Wall Street

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Japanese stocks are leading gains in Asian markets after Wall Street close to its record heights as data showed the U.S. economy is holding up better than expected. U.S. futures were higher while oil prices dropped. The Nikkei 225 surged nearly 3% in Friday morning trading.

Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index , top left, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 16, 2024. Currency traders work near a screen showing the Korea Composite Stock Price Index , top left, and the foreign exchange rate between U.S.

The Hang Seng in Hong Kong added 1.6% to 17,376.44, and the Shanghai Composite index edged 0.1% higher to 2,879.93. Another e-commerce company JD.com’s shares was up 8.9% after it reported forecast-beating quarterly profits. On Thursday, the S&P 500 jumped 1.6% for its fourth-best day of the year and its sixth straight gain as the U.S. stock market rights itself following. It’s back to within 2.2% of its all-time high set last month after briefly falling close to 10% below it.

 

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