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Friday, November 4, 2011

Asia Stocks Up After Greece Drops Referendum Plan

Asian stock markets rose sharply Friday, a day after Greece’s prime minister abandoned a referendum on the country’s bailout and the European Central Bank cut interest rates in a surprise move.

Oil prices approached $94 a barrel amid signs the U.S. economy may be improving. The dollar was higher against the euro but lower against the yen.

Japan’s Nikkei 225 index rose 1 percent to 8,732.32 and Hong Kong’s Hang Seng jumped 3.4 percent to 19,900.93. South Korea’s Kospi gained 2.7 percent to 1,920.82.

From: http://ping.fm/SkFLD

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