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ASIA MARKETS: Commodities Fuel Australia Stock Rally; Nikkei Rises Despite Weak Data

by December 28, 2016 General

By Kenan MachadoIn Japan, Hitachi Koki surges while Toshiba tumblesAsian shares were broadly higher Wednesday, with strength on Wall Street driving up Australian stocks, while equity markets in Southeast Asia were boosted by the return of some foreign funds.Australia’s S&P/ASX 200 was up 0.9% after a four-day weekend, led by a rally among commodities stocks. Among those, BHP Billiton (>> BHP Billiton Limited) gained 3.7%, Rio Tinto (>> Rio Tinto plc) added 2.6% and Fortescue Metals (>> Fortescue Metals Group Limited) surged 3.6%.