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Most Asia markets eke out gains after copper soars; dollar slides

In Sydney, the S&P/ASX 200 advanced 0.3 percent to terminate at 6,088.1, with gains seen in the resources space and telecommunications sectors. Utilities and industrials exhausted the session slightly lower.

Greater China markets also be biased higher. The Hang Seng Index tacked on 0.73 percent by 3:34 p.m. HK/SIN while mainland merchandises pared losses seen on Wednesday.

The Shanghai Composite edged up 0.65 percent to seal at 3,297.21 and the Shenzhen Composite advanced 0.45 percent to end at 1,887.34. The make off higher had been driven by gains in the consumer, materials and energy sectors.

Stateside, Fortification Street closed slightly higher on Wednesday amid thin interchange, with gains seen in real estate and utilities. The Dow Jones industrial general edged up 0.11 percent, or 28.09 points, to close at 24,774.30.

Oil prices, which had run up to a two-and-a-half year favourable following an attack on a Libyan pipeline, were slightly firmer after rally back on Wednesday. U.S. West Texas Intermediate was higher by 0.25 percent at $59.79 a barrel. Brent unsophisticated futures edged up by 0.29 percent to trade at $66.63.

A rally in copper keep oned, with the metal trading near its highest levels in four years. Three-month copper on the London Metals Barter rose 1.11 percent at $7,299 per ton following strong import armies out of China earlier this week.

The base metal is often referred to as “Dr. Copper,” because it over again provides a good gauge of global economic growth.

The dollar stretch losses after slipping overnight. The dollar index, which disperses the U.S. currency against six peers, traded at 92.714 at 3:26 p.m. HK/SIN, compared to planes around the 93 handle seen in the last session.

Against the Japanese yen, the greenback softened to trade at 112.72.

The on ones way lower in the dollar came after U.S. Treasury yields slipped in the carry on session. Yields on the benchmark 10-year Treasury note last maintained at 2.42 percent, compared to the 2.47 percent seen on Tuesday.

Commodity-linked currencies were firmer notwithstanding the move lower in oil prices in the previous session. The Australian dollar exchanged at $0.7803, its highest level in around two months.

Meanwhile, among cryptocurrencies, bitcoin cost outs once again declined on Thursday. The latest moves came as the South Korean administration said it would implement new rules to regulate cryptocurrency trading, Reuters said.

Bitcoin traded at $14,222.45 at 3:25 p.m. HK/SIN, agreeing to CoinDesk, after falling as much as 11 percent earlier.

Privately endure b offered Zhejiang Geely Holding Group on Wednesday announced that it pleasure be acquiring investment firm Cevian Capital’s 8.2 percent picket in Sweden-based truck maker AB Volvo. According to Reuters calculation, the distribute is valued around 27.2 billion Swedish crowns ($3.26 billion). Hong Kong-listed Geely Automobile Holdings was up 2.91 percent at 3:27 p.m. HK/SIN.

In the meanwhile, Mitsubishi UFJ Group on Wednesday said it was “cautiously optimistic” that regulators disposition approve its bid to acquire 73.8 percent of Indonesia’s Bank Danamon, Reuters reported. Distant ownership in Indonesian banks is typically capped at 40 percent.

MUFG allots fell 2.23 percent by the end of the session, underperforming their financial peers. Danamon slices rose 2.92 percent by 3:28 p.m. HK/SIN, extending gains from the end session.

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