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U.S. stocks stage last-minute turnaround Thursday

(AP) – Most Asian stock markets gained today while Japan edged down following Wall Street’s rally at the end of a turbulent week.

The Shanghai Composite Index rose 0.4 percent while Tokyo’s Nikkei 225 lost 0.1 percent. Hong Kong’s Hang Seng advanced 0.4 percent and Seoul’s Kospi added 0.8 percent. Sydney’s S&P-ASX 200 gained 1 percent and benchmarks in New Zealand, Taiwan and Southeast Asia also rose.

U.S. stocks staged a last-minute turnaround that put the market on track to end the volatile week with a gain. That followed the market’s best day in 10 years. Health care and technology companies, banks and industrial stocks accounted for much of the gains.

The S&P 500 rose 0.9 percent to 2,488.83 after being down 2.8 percent at midday. The Dow Jones Industrial Average gained 1.1 percent to 23,138.82. The Nasdaq composite added 0.4 percent to 6,579.49.

The downturn that began in October has intensified this month, erasing all of the market’s 2018 gains and nudging the S&P 500 closer to its worst year since 2008. Stocks are on track for their worst December since 1931.

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