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"Chinese export data seemed quite encouraging, at least on the surface," said Ben Kwong Man Bun, chief operating officer at KGI Asia Ltd. in Hong Kong. "The market is not as fearful as before." Wall Street was set to rise after a sell-off on Wednesday, with Dow futures up 77 points, or 0.8 percent, to 9,980.00, and the broader Standard and Poor's 500 futures up 10.20 points, or 1.0 percent, to 1,065.70. Japan's benchmark Nikkei 225 stock average on Thursday added 66.55 points, or 0.7 percent, to 9,505.39. South Korea's Kospi index rose 14.80, or 0.9 percent, to 1,662.02 while Australia's S&P/ASX 200 was up 1 percent at 4,427.70. Hong Kong's Hang Seng rose 0.5 percent to 19,717.62. Benchmarks in Singapore, Taiwan and New Zealand also were up. However, the Shanghai Composite Index retreated 0.4 percent to 2,572.93, with some investors anticipating negative news when China releases its inflation data Friday.
Benchmark crude for July delivery inched up 3 cents at $74.41 a barrel in electronic trading on the New York Mercantile Exchange, helped by a fall in U.S. crude inventories that suggests demand is rising. The contract gained $2.39 to settle at $74.38 a barrel on Wednesday.
[Associated
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