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Dow Jones Industrial Average Heads Higher; Homebuilders in the Spotlight

Greece passed its 2013 budget ahead of a key meeting of euro-zone finance ministers

by 11/12/2012 8:20:37 AM
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Overseas Trading

It was a less-than-stellar start to the week in Asia, as traders were spooked by a report showing Japan's economy contracted by an annualized 3.5% during the third quarter. However, China managed a positive finish, bolstered by news of a wider-than-forecast trade surplus of $32 billion in September. By the close, China's Shanghai Composite tacked on 0.5%, Hong Kong's Hang Seng advanced 0.2%, South Korea's Kospi lost 0.2%, and Japan's Nikkei lost 0.9%.

It's a mixed bag in Europe at midday, after Greek lawmakers passed the country's 2013 budget. Eurogroup leaders are due to meet later today to discuss the release of another tranche of aid to the cash-strapped nation. Meanwhile, European Union (EU) budget talks have been rockier, with Austria, Britain, and France now balking over the proposed spending plan. At last check, the German DAX and London's FTSE 100 are both up 0.3%, and the French CAC 40 is down 0.1%.

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