Sun, 29 Jan 2023

SYDNEY, NSW, Australia - Stocks in Asia took off on Friday, mirroring the sharp gains on Wall Street overnight.

No index was more impressive than the Hang Seng in Hong Kong, which sprouted 1,244.62 points or 7.74 percent to 17,525.66.

In Japan, the Nikkei 225 surged 817.47 points or 2.98 percent to 28,263.57.

China's Shanghai Composite advanced 51.16 points or 1.69 percent to 3,087.29.

The Australian All Ordinaries accelerated 204.40 points or 2.86 percent to 7,350.10.

South Korea's Kospi Composite jumped 80.93 points or 3.37 percent to 2,483.16.

In New Zealand, the S&P/NZX 50 climbed 219.83 points or 1.98 percent to 11,311.76.

The U.S. dollar continued to get hammered Friday following the U.S. CPI figure coming in at a better-than-expected level of 7.70 percent overnight.

The euro shot up to 1.0242 by the Sydney close Friday. The British pound surged to 1.1749 after it was revealed GDP grew on an annualized basis by 2.4 percent, well ahead of projections of 2.21 percent. The Japanese yen was robust at 141.24. The Swiss Franc cruised to 0.9633.

The Canadian dollar rallied to 1.3304. The Australian dollar was in demand at 0.6652. The New Zealand dollar swelled to 0.6039.

Overnight on Wall Street, the Nasdaq Composite accelerated 760.97 points or 7.35 percent to 11,114.15.

The Dow Jones industrials surged 1,198.27 points or 3.69 percent to 33,712.21.

The Standard and Poor's 500 jumped 207.31 points or 5.54 percent to 3,955.88.

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