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A scooter passes the New York Stock Exchange in New York's Financial District on Tuesday, Dec. 17, 2024. Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Dec. 18, 2024. – Asian stocks were mostly higher on Wednesday ahead of the Federal Reserve's final rate decision of this year.Japan’s benchmark Nikkei 225 slipped 0.2% in morning trading to 39,281.06 after the nation's exports grew 3.
The Hang Seng in Hong Kong added 0.6% to 19,815.30 and the Shanghai Composite index gained 0.7% to 3,385.64. Across a survey of global fund managers, strategists at Bank of America found many plowing into U.S. stocks and pulling out cash reserves to do so. The survey found fund managers are holding a notably small percentage of their overall portfolios in cash, similar to 2002 and 2011, which preceded tougher times for riskier investments.
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