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Asian stocks climb after Wall Street rebound led by Big Tech

Added 05-14-21 03:04:03am EST - “Asian shares were mostly higher on Friday after Wall Street put the brakes on a three-day losing streak with a broad stock market rally powered by Big Tech companies and banks. In Hong Kong, the Hang Seng advanced 1% to 27,993.06.…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Asian stocks climb after Wall Street rebound led by Big Tech”. Below is an excerpt from the article.

BANGKOK (AP) — Asian shares were mostly higher on Friday after Wall Street put the brakes on a three-day losing streak with a broad stock market rally powered by Big Tech companies and banks.

Shares in big semiconductor manufacturers led the advance in Asia, where almost all markets opened higher.

Japan's Nikkei 225 added 2.3% to 28,084.47 and the Kospi in Seoul picked up 1% to 3,153.32, lifted by gains for Samsung Electronics and SK Hynix, which gained 2.3% and 1.3% after announcing plans to expand their investments in chip production and development.

In Hong Kong, the Hang Seng advanced 1% to 27,993.06. The Shanghai Composite index gained 1.7% to 3,486.50 while Australia's S&P/ASX 200 was 0.5% higher at 7,014.20.

Shares fell 2.9% in Singapore, which has discovered fresh outbreaks of coronavirus, potentially jeopardizing plans to establish a travel “bubble" with Hong Kong.

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