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S&P advances to five-month high on China hopes

Business Materials 11 January 2012 04:10 (UTC +04:00)

US stock indices rose on Tuesday, sending the Standard & Poor's 500 to its highest level since July on hopes that China may act to spur economic growth, dpa reported.

Analysts said there is a growing sense that China will ease its monetary policy, which they called positive news.

The blue-chip Dow Jones Industrial Average jumped ahead 69.78 points, or 0.56 per cent, to 12,462.47. The broader Standard & Poor's 500 Index increased 11.38 points, or 0.89 per cent, to 1,292.08. The technology-heavy Nasdaq Composite Index added 25.94 points, or 0.97 per cent, to 2,702.50.

The US currency slid against the euro to 78.27 from 78.35 on Monday. The dollar dropped marginally against the Japanese currency to 76.84 from 76.87 yen.

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