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Overnight Markets: Economic reports push S&P 500 to five-year high
by Himanshu Singh on Jan 18, 2013 at 03:51
In Asia, shares gained on Friday in afternoon trade after an upbeat Chinese economic data confirmed a recovery was on track in the world's second largest economy and the yen traded near a 30-month low.
The MSCI Asia Pacific Index gained 0.9% to 132 as of 12:42 p.m. Tokyo time. China’s Shanghai Composite Index gained 0.6%, while Hong Kong’s Hang Seng Index rose 0.8%. The Nikkei 225 Stock Average jumped 2.6%, heading for its longest streak of weekly gains since April 1987.
South Korea’s Kospi Index added 0.4%, while Taiwan’s Taiex Index climbed 1%. Australia’s S&P/ASX 200 Index gained 0.3%.
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