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On Friday, Asian markets are experiencing upward momentum following the positive trend on Wall Street.
At 6.50 am IST, the Nikkei 225 index, a key benchmark, registered a 1.01 per cent increase, reaching 33,505.07 points, while the broader Topix index also saw a 1 per cent gain, closing at 2,429.52. Meanwhile, the KOSPI index in South Korea is trading 0.69 per cent higher at 2,591.20, and the Australian S&P/ASX 100 index has surged by 1.67 percent, reaching a solid 6,138.90.
Overnight on Wall Street, the Dow Jones Industrial Average recorded a 1.0 per cent rise, closing at 34,907.11 points. The S&P 500, a broad-based index, ended the day with a 0.8 per cent increase, and the tech-heavy Nasdaq also advanced by 0.8 per cent.
The US retail sales figures for August exceeded expectations, showing a slight acceleration. This was attributed to increased sales at service stations, driven by higher gas prices. Additionally, US wholesale prices rose due to surging demand for energy.
In the commodities market, West Texas Intermediate crude oil saw a 2 per cent increase, reaching $90.31 per barrel, while gold futures remained relatively stable.
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