Asian stocks extend rally on China, US sentiment

Equities in Australia advanced, while Japan’s Nikkei index was poised to erase all losses since the Bank of Japan’s July 31 interest rate hike. In the US, the S&P 500 climbed to its 42nd closing record of this year while the Nasdaq Golden Dragon Index — a gauge of Chinese shares listed in the US — jumped 11%. Futures for US indexes were little changed early Friday.

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