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AP National Business

Global shares up; many Asian markets closed for holiday

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Published 3:40 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Global shares have advanced, mirroring broad overnight gains on Wall Street. Shares in France, Germany and Britain rose in early trading following gains in Tokyo and Australia. Trading in China and most other Asian markets was closed for Lunar New Year holidays. Sony Corp. stock finished 0.4% higher after it announced its acquisition of Bungie Inc., an independent game publisher based in Bellevue, Washington. Investors expect the Federal Reserve to begin raising interest rates in March to fight inflation. Ultra-low rates and other stimulus have helped markets recover from the initial shock of the coronavirus pandemic, and then supported stunning gains until recently.

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