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Asia-Pacific markets higher after U.S. stocks bounce back from rout
Asia-Pacific markets closed higher on Friday, tracking gains on Wall Street after new labor market data boosted investor confidence in the U.S. economy and eased recession concerns following a sharp market sell-off earlier in the week.
Australia’s S&P/ASX 200 rose 1.25% to close at 7,777.7. Japan’s Nikkei 225 added 0.56% to close at 35,025, while the broad-based Topix traded 0.88% higher to end at 2,483.3. South Korea’s Kospi gained 1.24% to close at 2,588.43, while the small-cap Kosdaq jumped 2.57% to close at 764.43.
Hong Kong Hang Seng index rose 1.42%. Mainland China’s CSI 300 slid 0.34% to close at 3,331.63.
Earlier this week, global equities and currencies plunged after U.S. employment data renewed recession fears and investors started to unwind their yen “carry trades.”
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