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Wall Street rallies after China trade comments, Oil rises 1.7% on big inventory drop Updated: 2019-08-30 05:18:29 KST

Wall Street stocks rallied more than 1-percent on Thursday buoyed by gains in the trade-sensitive technology and industrial sectors as China expressed hope on trade negotiations with the United States, easing concerns that rising tensions could stoke a recession.
At closing bell, the Dow rose one-and-a-quarter percent, the S&P 500 gained 1.3 percent and the Nasdaq Composite added one-and-a-half percent.
On the Korean bourse, shares extended losses as Samsung Group affiliates fell following a court ruling over the group heir's bribery case.
The benchmark KOSPI lost point-four percent to close at 19-33 while the tech-heavy KOSDAQ plunged more than one-half a percent.
In the global commodities market,
Brent rose withstanding pressure from concerns about economic growth, while a sharp fall in U.S. inventories boosted WTI crude futures.
International benchmark Brent crude was up 51 cents at 61 dollars flat a barrel. WTI was up 84 cents to settle at 56-62 a barrel.
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