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Asian stocks track Wall Street higher

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Fed will react 'as appropriate' to trade war risks

A pedestrian walks past an electronic board displaying Asian stock market indices in Tokyo, Japan. Picture: BLOOMBERG/TOMOHIRO OHSUMI

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5%, while Japan’s Nikkei average climbed 1.9%. On Wall Street, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite clocked their biggest one-day gains in five months, with all three indexes ending up more than 2% on Tuesday.

Chinese President Xi Jinping said the country’s economy is stable, healthy and well placed to meet all risks and challenges, according to a transcript published by the Xinhua news agency.The greenback hit a seven week-low of 96.995 against a basket of six major currencies overnight and was last quoted at 97.045, little changed on the day. The euro fetched $1.1263, up by a marginal 0.1%.

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