Asian shares track Wall St higher on upbeat US data

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Asian shares are modestly higher after stocks advanced on Wall Street with encouraging reports about the potential impact of the omicron variant of coronavirus. The Commerce Department reported Wednesday that the U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought. The S&P 500 rose 1%, the Nasdaq rose 1.2% and the Dow Jones Industrial Average rose 0.7%. The Russell 2000, a measure of small-company stocks, rose 0.9%. Technology companies and a mix of retailers led the gains. Major indexes are still on track for a Christmas week gain, with trading thinning as the holidays approach. Many world markets will be closed Friday in observance of Christmas.