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The Independent UK
The Independent UK
National
Elaine Kurtenbach

Asian shares track Wall St rally on upbeat consumer data

Asia United States US Federal Reserve Inflation Interest Rates
ASSOCIATED PRESS

Shares advanced in Asia on Thursday after a rally on Wall Street as investors welcomed a report showing U.S. consumer confidence is holding up despite the Federal Reserve’s campaign to fight inflation by raising interest rates.

Hong Kong’s Hang Seng jumped more than 2% and benchmarks also rose in Tokyo, Sydney and Seoul. Shanghai and Mumbai declined. U.S. futures and oil prices were modestly higher.

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