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Asian markets traded higher on Wednesday morning

05-12-2010 15:00 BJT

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Asian markets traded higher Wednesday morning, as Australian stocks climbed as investors welcomed the country's budget. Shares in Tokyo got a boost from better-than-expected earnings from exporters.

Australian shares got a boost after treasurer Wayne Swan forecast the government's budget would return to financial surplus three years sooner than expected, and before any other major advanced economy. This was helped by global demand for its key commodity like iron ore. Toyota shares led the Japan's market gain, as the automaker cruised back into profit in the latest quarter. In Seoul, auto shares led the market modestly higher as their global market share grows.

Editor:Zhang Jingya |Source:

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