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Overnight Markets: US stocks advance amid upbeat economic data

by Himanshu Singh on Dec 17, 2013 at 03:38

General Motors Co. climbed 3.5% after saying it plans to spend $1.3 billion to upgrade five US factories and may consider paying a dividend next year. Twitter Inc. retreated 4.1% after Wells Fargo & Co. downgraded the stock.

International Business Machines Corp. surged 2.9%, halting five days off losses for the biggest increase in the Dow.

In Asia, shares gained on Tuesday in late morning trade as investors await the outcome of a Fed meeting after reports showed manufacturing growth accelerated in Europe and the US.

The MSCI Asia Pacific Index gained 0.6% to 138 as of 9:43 a.m. in Hong Kong. Japan’s Topix index rose 0.8%. The Nikkei 225 Stock Average climbed 1% as Honda Motor rose 1.6%.

Australia’s S&P/ASX 200 Index gained 0.5%, while New Zealand’s NZX 50 Index slid 0.3%. South Korea’s Kospi index added 0.7%. Hong Kong’s Hang Seng Index rose 0.4% and China’s Shanghai Composite increased 0.1%. Singapore’s Straits Times Index advanced 0.6% and Taiwan’s Taiex Index gained 0.7%.

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