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Thursday, April 25, 2024

Asian shares mostly gain after rally on Wall Street

BANGKOKStocks were mostly higher in Asia on Tuesday after Wall Street rallied in its latest about-face in recent topsy-turvy trading. Oil prices and U.S. futures advanced and the dollar was trading near 149 Japanese yen.

A release of China‘s most recent economic growth figures, was postponed Monday, taking away one factor that had been expected to drive trading. No specific reason was given, but the GDP report was likely to conflict with the confident tone of a Communist Party congress being held in Beijing, by showing the economy grew by as little as 3% in the latest quarter, barely half the official 5.5% target.

There was little immediate news from the gathering in Beijing, where the party is expected to unveil its top leadership for the next five years a day after the congress closes.

Some analysts speculated that the delay was due to signs of further weakening in the…

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