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AP
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A currency trader passes by screens showing the Korea Composite Stock Price Index (KOSPI), center, and the exchange rate of South Korean won against the U.S. dollar, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Nov. 23, 2022. Asian shares advanced on Wednesday after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S. (AP Photo/Ahn Young-joon)

AP
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Nov. 23, 2022. Asian shares advanced on Wednesday after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S. (AP Photo/Ahn Young-joon)

AP
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Asian stock markets are mixed after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices gained. Wall Street declined for another day after a Federal Reserve official rattled investors last week by saying already-elevated interest rates might have to go higher than expected to stop surging inflation. Traders worry repeated rate hikes by the Fed and other central banks might tip the global economy into recession. In China, expanding restrictions on millions of people in multiple cities to fight virus outbreaks are adding to concern the world’s second-largest economy might weaken.

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Stocks ended higher on Wall Street but still wound up with weekly losses after several days of bumpy trading. Some retailers posted big gains after reporting surprisingly strong quarterly results and giving investors encouraging forecasts. Gap, Ross Stores and Foot Locker all rose sharply. Energy stocks fell along with crude oil prices. The S&P 500 rose 0.5% Friday. The Nasdaq ended just barely in the green and the Dow Jones Industrial Average rose 0.6%. Bond yields rose. The yield on the 10-year Treasury note, which helps set mortgage rates, climbed to 3.82%.

AP
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Asian stocks are mixed after Wall Street declined following indications the Federal Reserve plans to raise interest rates higher than expected to cool inflation. Shanghai declined while Tokyo and Hong Kong advanced. Oil prices gained. Wall Street’s benchmark S&P 500 index declined after a Fed official indicated its benchmark lending rate might have to be raised sharply to stop price rises. Officials have said this previously but traders hoped signs that economic activity was weakening might prompt the U.S. central bank to ease off. Traders worry large rate hikes this year by the Fed and central banks in Europe and Asia to stop multi-decade-high inflation might tip the global economy into recession.

AP
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Asian shares mostly declined amid concerns about the impact of China’s “zero-COVID” strategy mixed with hopes for economic activity and tourism returning to normal. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while gaining in Sydney. Oil prices fell. Market watchers noted worries about how the Federal Reserve might not ease on its aggressive interest rate hikes, which are aimed at curbing inflation pressures. Retailers and technology companies led a broad slide on Wall Street. China is maintaining its “zero-COVID” approach to eliminate the coronavirus entirely. The localized lockdowns and other restrictions have caused a supply crunch for some of Asia’s biggest manufacturers, denting economic growth.

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A person walks in front of an electronic stock board showing Japan's Nikkei 225 index, center left, at a securities firm Thursday, Nov. 17, 2022, in Tokyo. Asian shares mostly declined Thursday amid concerns about the impact of China's "zero-COVID" strategy mixed with hopes for economic activity and tourism returning to normal. (AP Photo/Shuji Kajiyama)

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People are reflected on an electronic stock board at a securities firm Thursday, Nov. 17, 2022, in Tokyo. Asian shares mostly declined Thursday amid concerns about the impact of China's "zero-COVID" strategy mixed with hopes for economic activity and tourism returning to normal. (AP Photo/Shuji Kajiyama)

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A person walks in front of an electronic stock board showing Japan's Nikkei 225 index, center left, at a securities firm Thursday, Nov. 17, 2022, in Tokyo. Asian shares mostly declined Thursday amid concerns about the impact of China's "zero-COVID" strategy mixed with hopes for economic activity and tourism returning to normal. (AP Photo/Shuji Kajiyama)

AP
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Asian shares were mostly lower Wednesday, as investors got jittery over global risks after Poland said a Russian-made missile killed two people there. Benchmarks fell in morning trading in Tokyo, Sydney, Seoul and Hong Kong, while shares were little changed in Shanghai. Details were unclear, including who fired the missile and from where. President Joe Biden, in Indonesia for the Group of 20 summit, promised “full U.S support for and assistance with Poland’s investigation.” Wall Street closed higher, boosted by more signs the nation’s high inflation may be falling off faster than expected. Oil prices fell back.