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Asian shares up on China efforts despite virus worries


Added 02-05-20 02:03:02am EST - “Asian shares rose Wednesday on optimism that China's latest actions may help curtail some of the expected economic damage from the virus outbreak.” - Washingtontimes.com

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Posted By TheNewsCommenter: From Washingtontimes.com: “Asian shares up on China efforts despite virus worries”. Below is an excerpt from the article.

TOKYO (AP) - Asian shares rose Wednesday on optimism that China’s latest actions may help curtail some of the expected economic damage from the virus outbreak.

Japan’s benchmark Nikkei 225 gained 1.1% to 23,342.60 in afternoon trading. Australia’s S&P;/ASX 200 added 0.4% to 6,976.10. South Korea’s Kospi was up nearly 0.2% at 2,161.06. Hong Kong’s Hang Seng edged up nearly 0.1% to 26,702.28, while the Shanghai Composite gained 0.9% to 2,808.64.

“Risk sentiment remains on the mend, setting Asia markets up for intraday gains. Although this remains the ebb and flow around an issue such as the coronavirus with the impact still under assessment,” said Jingyi Pang, market strategist at IG in Singapore.

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The gains reflected a broad rally on Wall Street overnight that drove the Dow Jones Industrial Average more than 400 points higher and gave the S&P; 500 its best day in more than five months.

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