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Friday, 25 November 2016 - 13:57
Most Asia markets end week on a positive note

Asian stock markets are in positive territory on Friday despite the absence of cues from Wall Street, which was closed overnight for the Thanksgiving holiday.

Bucking the trend, the Shanghai market is lower. Higher commodity prices lifted resources stocks. Crude oil prices held steady in Asian trades.

The Australian market is modestly higher in choppy trades, in the absence of cues from Wall Street.

In late-morning trades, the benchmark S&P/ASX 200 Index is adding 14.00 points or 0.26 percent to 5,499.10, off a high of 5,503.30 earlier. The broader All Ordinaries Index is up 14.30 points or 0.26 percent to 5,563.30.

Meanwhile, Sri Lankan rupee was reported steady yesterday as dollar selling by exporters offset demand for the U.S. currency by importers who fear the economic policies of U.S. President-elect Donald Trump would lead to a rise in the dollar and interest rates.

Dealers said foreign investors might pull out of emerging markets, including from Sri Lanka, if the U.S. Federal Reserve raises interest rates next month

Finance Minister Ravi Karunanayake said that “turbulent times” were the reason for the rupee volatility, adding it was driven by sentiment.

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