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ASIA ECONOMICS: China Stocks Fall Despite Wall Street Jump

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The Shanghai Composite index dropped 15 points, or 0.6%, to 2,483 Thursday following news that state-owned oil company Sinopec has suspended two top officials at its Unipec subsidiary after the company suffered losses, Trading Economic reported. Sinopec shares slumped as much as 7.1%. Meanwhile, Hong Kong's Hang Seng lost 0.7% to 25,479. The Nikkei 225 jumped 751 points, or 3.9%, to 20,078 Thursday, following strong gains on Wall Street overnight as the Dow Jones posted its largest single-day point gain in history and oil prices rose the most since November 2016. Australia's S&P/ASX 200 climbed 1.9% to 5,597; while South Korea's Kospi finished near the flat line.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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