Wednesday, 28 December 2016

Asia follows Wall Street higher, upbeat US data lifts dollar


Asia stocks followed Wall Street higher early on Wednesday, while the dollar firmed against major peers such as the yen following the release of upbeat US economic data overnight. Crude oil prices held large gains on expectations of supply tightening once oil-producing nations implement a scheduled output cut. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. Australian stocks were up 0.9 percent. Japan's Nikkei was little changed. US stocks rose slightly on Tuesday, supported by upbeat consumer and housing data, with gains in technology shares lifting the Nasdaq Composite to a record close.

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