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Asia stocks edge higher

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Stocks in Asia edged higher on Monday as the final trading week of 2020 kicked off.

In Japan, the Nikkei 225 gained 0.56% while the Topix index advanced 0.38%. South Korea’s Kospi rose 0.36%.

Mainland Chinese stocks edged higher by the afternoon, with the Shanghai composite up 0.3% while the Shenzhen component rose 0.435%. Hong Kong’s Hang Seng index hovered above the flatline.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.28%.

Profits at Chinese industrial firms in November rose 15.5% as compared with a year earlier, according to data released by the country’s National Bureau of Statistics over the weekend.

Markets in Australia and New Zealand are closed on Monday for a holiday.

Australia’s unemployment rate in November was at 6.8%, according to seasonally adjusted estimates released by the Australian Bureau of Statistics on Thursday. That compared against October’s 7% unemployment rate. Economists polled by Reuters had expected the unemployment rate in November to stay at 7%.

 

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