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Japan’s Nikkei 225 jumps more than 2%; Alibaba shares in Hong Kong plunge 4%

SINGAPORE — Stocks in Asia-Pacific rose in Friday trade, following an overnight bounce for stocks stateside.

Shares in Japan led gains among the region’s major markets. The Nikkei 225 jumped 2.33% in afternoon trade. That followed a more than 2% plunge seen on Thursday. The Topix index gained 2.08%. South Korea’s Kospi advanced 0.96%.

Mainland Chinese stocks were also higher, with the Shanghai composite rising 1.21% and Shenzhen component surging 1.516%.

Hong Kong’s Hang Seng index gained 0.95%. Hong Kong-listed shares of Chinese tech giant Alibaba plunged 4.03% by Friday afternoon in the city after the firm posted its first operating loss as a public company in its fiscal fourth quarter.

Over in Australia, the S&P/ASX 200 climbed 0.91%.

Investors also continued to monitor the coronavirus situation in India, with more than 4,000 Covid-19 deaths reported for the second straight day on Thursday. In Friday morning trade, the Nifty 50 sat below the flatline while the BSE Sensex declined around 0.1%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.87% higher.

Overnight on Wall Street, the Dow Jones Industrial Average jumped 433.79 points to close at 34,021.45 while the S&P 500 gained 1.22% to finish the trading day stateside at 4,112.50. The Nasdaq Composite advanced 0.72% to close at 13,124.99.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.71 after rising earlier this week from below 90.5.

The Japanese yen traded at 109.55 per dollar, after weakening earlier in the week from below 109 against the greenback. The Australian dollar was at $0.7725, having declined from levels above $0.78 earlier this week.

Oil prices dipped in the afternoon of Asia trading hours, with international benchmark Brent crude futures down 0.36% to $66.81 per barrel. U.S. crude futures slipped 0.27% to $63.65 per barrel.

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