A look at Friday morning’s market action
Global markets were higher as caution prevailed ahead of crucial U.S. economic data, while Asian stocks got a mighty boost from China’s stimulus moves this week.
In Asia, Japan’s Nikkei closed 2.32 per cent higher, while Hong Kong’s Hang Seng surged 3.55 per cent. “The recent decision by OPEC+ to ramp up production has only added to the gloom,” said Priyanka Sachdeva, senior market analyst at Phillip Nova, adding that the oil market has been struggling with weakening demand over the past few months.
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