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Market Update : 
Resource, Financial Stocks Boost Asia
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:20 AM EDT July 19 2007

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Asian markets finished higher on Thursday as miners surged on higher copper prices. Financial stocks led the rally in Japan, while HK advanced on strong first-half economic results. Banks and LG Electronics boosted the market in South Korea, and Australia settled higher on banks and resource stocks.China was little changed as reports showed that inflation was the highest in three weeks.

 
Crude oil for August delivery surged $1.03 to settle at $75.05 a barrel on the Nymex. Gasoline futures rallied 9.46 cents to close at $2.1953 a gallon.

In Chicago, agriculture futures made a recovery from the sharp decline of the prior two days. November soybeans rebounded 16 cents to settle at $8.765 a bushel on the Chicago Board of Trade. September wheat added 22.25 cents to close at $6.235 a bushel.

December corn rose 5.75 cents to close at $3.425 a bushel. A break of that price could have sparked a fall to the low point of $2.81 a bushel in September, according to investors.
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