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Overnight Markets: Wall Street gains on manufacturing data

by Himanshu Singh on Apr 02, 2014 at 04:05

Medicines Co (MDCO.O) plunged 15.5% after a US District Court ruled a generic version of its blood thinner made by Hospira Inc (HSP.N) did not infringe two of Medicine Co's patents. Hospira shares gained 2.4%.

In Asia, shares gained on Wednesday after the yen retreated before reports that may bolster the view that the US economic recovery is gaining pace.

The MSCI Asia Pacific Index added 0.5% by 11:08 a.m. in Tokyo. Japan’s Nikkei 225 Stock Average jumped 1.5% in its fifth advance in six days as the yen slipped to 103.86, the weakest since 23 January.

The Kospi index in Seoul climbed 0.3% and Australia’s S&P/ASX 200 Index rose 0.1%. Hong Kong’s Hang Seng Index climbed 0.2%, while China’s Shanghai Composite Index rose 0.14%.

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