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Money Daily Brief: Asian stocks highest in a year

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Punit Paranjpe/Reuters/File

(Read caption) Passersby look at a large screen displaying India's benchmark for stocks, the Sensex index of the Bombay Stock Exchange. The index hit a 52-week high on Oct. 14.

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•Rising Asian stocks: Asian markets climbed with the benchmark MSCI Asia-Pacific Index reaching a 13-month high and the Indian Sensex climbing 1.3 percent to hit a 52-week high. The plummeting dollar is encouraging investors to pour more money in emerging markets like China and India, which have outpaced the rise in gold, despite the precious metal's new high.

•Oil prices soar: They jumped above $75 a barrel for the first time this year, spiked largely by a weakening US dollar and strong China growth data, which suggests a strong rebound in the world’s No. 2 oil consumer.

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