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South Korea's Kospi index added 0.7 percent to 1,688.14. Australia's stock market was closed Monday for a public holiday. Hong Kong's Hang Seng edged up 0.9 percent to 20,047.14. Shanghai's stock market was also closed Monday, while shares in Taiwan rose 1.1 percent in early trading. Recent gyrations in world markets have been largely due to the debt crisis in Europe, said Tey Tze Ming, market strategist for Saxo Capital Markets in Singapore. "I think it will blow past. At the end of they day, U.S. growth is back on track. Asia is growing well; most Southeast Asian countries beat their growth estimates," he said. In New York on Friday, the Dow Jones industrial average rose 38.54 points, or 0.4 percent, to 10,211.07. The dollar rose to 91.87 yen in Tokyo on Monday from 91.77 yen in New York late Friday. The euro climbed to $1.2170 from $1.2125. Benchmark crude for July delivery was up 78 cents to $74.56 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped $1.70 to close at $73.78 on Friday.
[Associated
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