U.S. stocks opened higher after the release of housing start data but quickly lost the ground on a rise in crude oil. April housing starts rose 8.2% and building permits increased 4.9%. The volatile condo construction impacted the monthly rise in addition to the cyclical activity after the winter months. In the earnings news, Kohl''s Corp reported first quarter sales rose 1.5% and net income increased 27%. Thailand, Australia and Indonesia led the gainers in Asia.
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