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Asian markets tack on after Fed takes cautious stance
On Thursday, Asian equity markets mostly ascended after Fed Chair Janet Yellen's quite cautious testimony on Wednesday, while Chinese markets were underpinned by estimate-beating trade data.
The market in Thailand rallied 0.44%, demonstrating 1,581.88. At the same time in Manila the Philippines Stock Exchange PSEi Index managed to gain 0.19%, hitting 7953.78.
South Korea's Kospi Index rallied 1.1%, hitting 2,418.48. Additionally, Hong Kong also demonstrated sturdy outcomes in morning trade. Its Hang Seng Index leapt 1.08%, reaching 26,330.50. In Singapore the FTSE Straits Times index surged 0.59%, demonstrating 3,227.90.
The Shanghai Composite Index demonstrated a 0.44% rise in mid-morning trade, hitting 3,211.51. The Chinese market was bolstered after China unveiled upbeat data on exports. In China, June exports inched up 11.3% year-on-year, while imports surged 17.2%, surpassing expectations.
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