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Taiwan’s Taiex surges around 2% as Asia-Pacific markets edge higher; Tencent shares plunge nearly 3%


SINGAPORE — Shares in Asia-Pacific traded higher on Friday morning following an overnight bounce on Wall Street.

The Taiex in Taiwan led gains among the region’s major markets, jumping 1.82% in morning trade.

Mainland Chinese markets were also higher, with the Shanghai composite up 0.23% while the Shenzhen component gained 0.505%.

In Hong Kong, the Hang Seng index edged 0.31% higher. Shares of Tencent in Hong Kong dropped about 2.8% in Friday morning trade, despite the Chinese tech behemoth posting a 65% surge in its quarterly profit on Thursday.

Japan’s Nikkei 225 rose 0.95% in morning trade while the Topix index gained 0.62%. South Korea’s Kospi advanced 0.77%.

Meanwhile in Australia, the S&P/ASX 200 hovered above the flatline.

MSCI’s broadest index of Asia-Pacific shares traded 0.52% higher.

Overnight stateside, the S&P 500 gained around 1.1% to 4,159.12 while the Nasdaq Composite surged 1.77% to 13,535.74. The Dow Jones Industrial Average rose 188.11 points to 34,084.15. Those gains on Wall Street came on the back of three straight days of losses.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.758 — off levels above 90 seen earlier in the week.

The Japanese yen traded at 108.80 per dollar, stronger than levels above 109.2 against the greenback seen earlier this week. The Australian dollar changed hands at $0.7765 following a recent rise from around $0.772.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures rising 0.2% to $65.24 per barrel. U.S. crude futures advanced 0.39% to $62.18 per barrel.

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