MANILA – Asian shares were mostly higher on Thursday after US stocks hit records again following a brief stumble.

Markets in mainland China gained more than 1% as they reopened following a weeklong holiday, while U.S. futures declined.

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Oil prices fell back after Israel and Hamas agreed Wednesday to pause fighting in Gaza so that the remaining hostages there can be freed in the coming days in exchange for Palestinian prisoners.

The acceptance of elements of a plan put forward by the Trump administration represents the biggest breakthrough in months in the devastating two-year-old war and reduced risks in the volatile region.

U.S. benchmark crude slid 44 cents to $62.11 per barrel. Brent crude, the international standard, shed 38 cents to $65.87 per barrel.

Gold

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