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Asia-Pacific stocks rise following overnight Wall Street surge

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SINGAPORE — Shares in Asia-Pacific climbed in Friday morning trade following big gains overnight on Wall Street as the Nasdaq Composite surged 3%.

South Korea KospiGained 0.27% during the S&P/ASX 200Australia’s growth was 0.4%

The MSCI’s largest index of Asia-Pacific shares, outside Japan, traded 0.26 percent higher.

Investors sat and watched as technology stocks in Asia-Pacific rallied overnight, just after Wall Street rally. Tech-heavy Nasdaq Composite rose 3.06% to 12,871.53.

Shares of South Korean industrial heavyweight Samsung Electronics rose nearly 2% in Friday morning trading, while SK Hynix saw a more than 1% increase. Kakao was 0.11% lower.

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Apple Supplier stocks in the area will also be watched after the tech giant. warned of a potential $8 billion hit from supply constraints.

Japan has a Friday holiday that sees the markets close.

Other major indexes stateside also saw gains overnight, with the S&P 500 rising 2.47% to 4,287.50. Dow Jones Industrial Average climbed 614.46 point, or 1.85% to 33.916.39.

Currencies

It U.S. dollar indexThe indices that track the greenback in relation to a basket of peers were at 103.64, continuing their climb since crossing the 102 mark earlier this week.

It Japanese yenThe dollar traded at 130.71 dollars, maintaining its weakness after surpassing the 130 level yesterday. The Australian dollarIt was $0.7114. This is still below the $0.72 levels seen earlier in this week.

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