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Asian Markets Notably Higher

(RTTNews) - Asian stock markets are notably higher on Thursday on a broadly positive lead from Wall Street overnight as well as easing bond yields and surging crude oil prices. Investors are refocusing on a vaccine and stimulus-driven global economic recovery with optimism about the reopening of the economy.

The Australian stock market is higher on Thursday, recouping some of the recent losses. The benchmark S&P/ASX 200 rose above the 6,800 level as the boarder market was boosted by a rally in the materials and energy sectors. Value-oriented stocks are once again dominating as investors are refocusing on a vaccine and stimulus-driven global economic recovery.

The benchmark S&P/ASX 200 Index is advancing 64.60 points or 0.95 percent to 6,842.40, after touching a low of 6,777.80 earlier. The broader All Ordinaries Index is adding 63.10 points or 0.90 percent to 7,112.50. Australian stocks closed lower on Wednesday.

The major miners are mostly lower. Fortescue Metals is losing more than 1 percent and Rio Tinto is down nearly 3 percent, while BHP Group is lower by more than 3 percent.

Among oil stocks, Oil Search is losing nearly 2 percent and Santos is edging down 0.4 percent each, while Woodside Petroleum is lower by more than 1 percent.

Among the big four banks, Westpac is edging down 0.5 percent and ANZ Banking is also edging down 0.7 percent, while National Australia Bank is edging up 0.2 percent. Commonwealth Bank is declining more 0.6 percent.

Meanwhile, tech stocks are mostly lower. Appen is losing more than 12 percent and Afterpay is down almost 3 percent, while WiseTech Global is up more than 1 percent.
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