Chinese stocks moved up in early trade, with other Asia markets following after U.S. Federal Reserve Chairman Jerome Powell signaled overnight that the U.S. central bank could be cutting interest rates soon. The Shanghai Composite added 0.82%, while both the Shenzhen component and Shenzhen composite also gained about 1%. Hong Kong’s Hang Seng index advanced 1.2%. The Nikkei 225 rose 0.3% in morning trade, while the Topix gained 0.36%. Shares of game maker Nintendo jumped more than 3.5% a day after the company announced a cheaper version of its Switch video game console. Relations between Tokyo and Seoul remain frosty, with Japan saying it would tighten restrictions on exports of three materials used in smartphone displays and chips, over a dispute with Seoul on South Koreans being forced to work for Japanese firms during World War Two.
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