Asia-Pacific stocks edge higher; bitcoin bounces back

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SINGAPORE — Shares in Asia-Pacific were higher in Thursday morning trade, with markets in Japan closed for a holiday.

South Korea’s Kospi gained 0.78% in morning trade as shares of chipmaker SK Hynix jumped more than 1%.

Elsewhere, the S&P/ASX 200 in Australia advanced 0.68%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.32% higher.

Still, concerns over the coronavirus situation in Asia-Pacific may continue to weigh on regional sentiment on Thursday. Australia’s two largest states on Wednesday reported sharp increases in new Covid infections, while Indonesia saw record high deaths from the virus, according to Reuters.

Markets in Japan are closed on Thursday for a holiday.

Meanwhile, the price of bitcoin rebounded after recently falling below the $30,000 mark. It traded at $32,142.16 as of 8:11 p.m. ET Wednesday, according to Coin Metrics.

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Overnight stateside, the Dow Jones Industrial Average gained 286.01 points to 34,798 while the S&P 500 rose 0.82% to 4,358.69. The Nasdaq Composite advanced 0.92% to 14,631.95.

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