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Overnight Markets: US stocks surge on debt-deal optimism
by Himanshu Singh on Oct 11, 2013 at 04:16
MetLife Inc. added 3.7% and Prudential Financial Inc. climbed 4.1%, pacing gains among insurers as bond yields rose.
Gilead Sciences (GILD) Inc. jumped 6.5% as the largest biotechnology company by market value said the cancer drug idelalisib improved survival times.
Among other top gainers, Facebook (FB.O) was up 4.9%, Best Buy (BBY.N) gained 7.5% and Netflix (NFLX.O) surged 5.4%.
In Asia, shares gained on Friday in midsession amid optimism US lawmakers will lift the debt limit and avoid a default.
The MSCI Asia Pacific Index jumped 1.2% to 141 as of 12:26 p.m. in Tokyo. Japan’s Topix index surged 1.6% today and South Korea’s Kospi index climbed 1.2%. New Zealand’s NZX 50 Index gained 0.5% and Australia’s S&P/ASX 200 Index rallied 1.6%.
Taiwan’s Taiex Index rose 0.4% as markets reopened following a holiday. Singapore’s Straits Times Index added 0.5%. Hong Kong’s Hang Seng Index (HSI) gained 1.2%. China’s Shanghai Composite Index rose 0.8%.
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