Asian shares rise after Wall Street gains on solid earnings

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Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports from U.S. companies.

Japan's benchmark Nikkei 225 gained 0.3% to 23,647.63. South Korea's Kospi added 0.3% to 2,366.15, while Australia's S&P/ASX 200 edged up 0.1% to 66,191.80. Hong Kong's Hang Seng jumped 0.7% to 24,750.04. The Shanghai Composite slipped 0.5% to 3,312.28.Asian shares have tracked moves on Wall Street lately, as much of the region's export-dependent economies depend on robust trade, slammed by the coronavirus pandemic.

Others didn't fare as well. Netflix shares fell in after-hours trading after the streaming service reported third-quarter earnings and a tally of new subscribers that fell short of analysts' expectations. Google parent Alphabet rose 1.4% after the Justice Department sued the company for antitrust violations. The lawsuit could be an opening salvo ahead of other major government antitrust actions, given ongoing federal probes of other major tech companies, including Apple, Amazon and Facebook.

 

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