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Asian shares higher on US record gains Asian shares higher after record US market gains
(about 5 hours later)
Asian shares traded higher on Wednesday, taking the lead from Wall Street where shares closed at a record level overnight.Asian shares traded higher on Wednesday, taking the lead from Wall Street where shares closed at a record level overnight.
The Dow Jones finished over 18,000 for the first time after data showed the US economy grew at its fastest pace in 11 years in the third quarter.The Dow Jones finished over 18,000 for the first time after data showed the US economy grew at its fastest pace in 11 years in the third quarter.
The economy grew at an annual rate of 5% in the quarter, up from a previous estimate of 3.9%.The economy grew at an annual rate of 5% in the quarter, up from a previous estimate of 3.9%.
That momentum helped Japan's Nikkei gain 1.1% to 17,837.59 points. That momentum helped Japan's Nikkei gain 1.2% to 17,854.23 points.
Tokyo's benchmark index was closed for a public holiday on Tuesday. That closing level was its highest in two and half weeks after the benchmark index was closed for a public holiday on Tuesday.
Sony was up 3% after its Hollywood studio said it would screen comedy The Interview in some US theatres on Christmas Day after initially cancelling the release. Sony's shares were up 4% after its Hollywood studio said it would screen comedy The Interview in some US cinemas on Christmas day after initially cancelling the release.
Light trade The Japanese markets are open for trading on Christmas day.
In China, shares headed in different directions with the Shanghai Composite continuing lower after a 3% drop the previous day. Light trading
The benchmark index was down 0.4% to 3,019.48, while the Hang Seng rose 0.1% to 23,356.25. In China shares fell back, with the Shanghai Composite ending the day 1.9% lower at 2,973.
In Australia, the S&P/ASX 200 index was up 0.2% to 5,391.2 in light trade. In Hong Kong the Hang Seng finished up 0.1% to 23,349.34 in a half day trading session.
In Sydney, trading will stop at lunchtime for the Christmas holiday. In Australia, the S&P/ASX 200 index ended up 0.3% to 5394.5 in light trading, closing up early at midday for the Christmas holiday.
In South Korea, the benchmark Kospi index was higher 0.3% to 1,945.19 after closing lower on Tuesday. In South Korea, the benchmark Kospi index closed 0.4% higher at 1,946.61.
Shares of Hyundai Motor jumped as much as over 4% on hopes the automaker would raise its dividend payouts. Shares of Hyundai Motor jumped as much as over 4% on hopes that the automaker would raise its dividend payouts.
The Hong Kong, Australian and South Korean markets will be closed for the Christmas holiday on Thursday.