Asian Equities Higher after Wall St Lead

Asian equity markets rose on Thursday following gains on Wall Street overnight but escalating tensions in Iraq limited gains.

U.S. stocks rose on Wednesday, with the Dow and S&P 500 bouncing back after a two-day decline, as investors shrugged off a weak gross domestic product (GDP) report.

The economy contracted 2.9 percent annually in the first quarter, a much steeper pace than expected, which briefly sent yields on the benchmark 10 year-note to a three-week low. Separately, May durable goods orders unexpectedly declined 1 percent on month while the services sector expanded at its fastest clip in more than four years in June.


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