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Asian stock markets gain after Wall Street hits record high

Monday, February 13, 2017 1:26
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BEIJING (AP) — Asian stock markets rose Monday after Wall Street hit a new high and a meeting between President Donald Trump and Japan’s prime minister appeared to soothe tensions over trade and currency.

KEEPING SCORE: The Shanghai Composite Index advanced 0.5 percent to 3,212.94 and Tokyo’s Nikkei 225 index gained 0.4 percent to 19,459.15. Hong Kong’s Hang Seng added 0.5 percent to 23,701.32 and Sydney’s S&P-ASX 200 rose 0.7 percent to 5,760.70. Seoul’s Kospi was up 0.2 percent at 2,078.65, while India’s Sensex lost 0.3 percent to 28,239.36. Benchmarks in New Zealand and Southeast Asia rose.

WALL STREET: A rally in small company stocks Friday helped push benchmarks to all-time highs. Miners and other raw materials companies led gains while rising oil prices gave energy companies a big boost. Strong company earnings and investor optimism over the Trump administration’s promises of tax cuts, less government regulation and other policies helped fuel the market’s gains much of the week. News that OPEC is largely adhering to a recent pact to cut crude oil production has also helped lift markets. The Dow Jones industrial average rose 0.5 percent to 20,269.37. The Standard & Poor’s 500 index gained 0.4 percent to 2,316.10. The Nasdaq composite index added 0.3 percent to 5,734.13. The Nasdaq closed at a record high four times last week.

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