Asian stocks track Wall Street gains after encouraging US jobs data calm jitters over the economy

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Asian stocks have advanced after U.S. stocks rallied to their best day since 2022 in Wall Street’s latest sharp swerve. U.S. futures and oil prices rose. The yen was again under pressure after three days of rising against the U.S. dollar, and that gave a lift to Japanese stocks. China reported higher than forecast consumer inflation.

A currency trader passes by a screen showing the Korea Composite Stock Price Index , top center left, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 9, 2024. Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index , top center, and the foreign exchange rate between U.S.

On early Friday trading, the U.S. dollar rose to 147.15 Japanese yen from 147.24 yen. The euro cost $1.0924, up from $1.0918. The Hang Seng in Hong Kong added 1.9% to 17,211.26 and the Shanghai Composite index edged 0.2% higher to 2,876.51. Elsewhere, Taiwan’s Taiex gained 3.4%, with chip maker Taiwan Semiconductor Manufacturing Co. gaining 3.6%, tracking Big Tech stocks’ rally on Wall Street. The SET in Bangkok was up 0.5%.

 

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