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AP National Business

Asian shares mostly gain as China boosts support for economy

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Published 2:41 AM

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Shares are mostly higher in Asia after China’s central bank offered more support for its slowing economy. Oil prices fell back and U.S. futures advanced. On Wall Street, stocks closed slightly lower after a wobbly day of trading Monday as worries about rising interest rates and high inflation weighed on sentiment despite some better-than-expected profit reports from banks. Stocks have struggled this year as the highest inflation in generations forces the Federal Reserve into a U-turn on the low-interest-rate policies that helped markets soar and the economy to rev in recent years. The price of U.S. natural gas jumped more than 7% and is close to its highest since 2008.

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