Asian stocks tacked on modest gains Friday after Wall Street snapped a five-day losing streak, though Japan lagged in the red as a weak inflation reading kept buyers at bay.
Australia’s S&P/ASX 200 was a standout, trading 0.2% higher after touching a new five-year high. Signs of economic stabilization in China — Australia’s largest trading partner — have spurred a strong quarter for the Australian market, one of the Asia’s best performers with a 10% increase so far.
Stocks in the U.S. rose overnight as investors set aside concerns over budget and debt-ceiling wrangling in Washington, sending the S&P 500 up 0.3% for its first positive close in six sessions.
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