Shanghai and Japan Stocks Lead Asia Higher

Asian equities rose Wednesday following a record close on Wall Street overnight, with indices in Japan and Shanghai surging to new multi-year peaks.

The Dow Jones Industrial Average rose to a record finish on Tuesday, with shares of car makers boosting sentiment as November auto sales clocked its best month since 2003.

Investors also cheered higher oil prices. U.S. oil rose nearly $1 in early Asian trade, resuming gains in what has been an extremely volatile week for oil markets. Stable Chinese data also contributed to gains, with Beijing’s official non-manufacturing PMI figure rising to 53.9 in November from a nine-month low of 53.8 in October.


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