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Asian shares higher after record US market gains Asian shares higher after record US market gains
(35 minutes 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 1.2% to 17,854.23 points. The momentum helped Japan's Nikkei gain 1.2% to 17,854.23 points.
That closing level was its highest in two and half weeks after the 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'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. Sony's shares were up 4% after its Hollywood studio said it would screen comedy The Interview in some US cinemas on Christmas Day, having initially cancelled the release.
The Japanese markets are open for trading on Christmas day. The Japanese markets are open for trading on Christmas Day.
Light tradingLight trading
In China shares fell back, with the Shanghai Composite ending the day 1.9% lower at 2,973. In China, shares fell back, with the Shanghai Composite ending the day 1.9% lower at 2,973.
In Hong Kong the Hang Seng finished up 0.1% to 23,349.34 in a half day trading session. In Hong Kong, the Hang Seng finished up 0.1% to 23,349.34 in a half-day trading session.
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 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 closed 0.4% higher at 1,946.61.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 that the automaker would raise its dividend payouts. Shares of Hyundai Motor jumped as much as 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.The Hong Kong, Australian and South Korean markets will be closed for the Christmas holiday on Thursday.