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NEW ORLEANS (AP) — Visiting residents on tidy porch stoops and sampling the fried chicken at a corner restaurant, President Barack Obama held out the people of New Orleans on Thursday as an extraordinary example of renewal and resilience 10 years after the devastation of Hurricane Katrina.
Asian shares extended a global rally on Friday after upbeat U.S. economic data calmed sentiment shaken by days of turmoil in Chinese equities. Wall Street rose sharply overnight thanks to revised U.S. gross domestic product data showing the economy grew faster than initially thought in the second quarter - a reassuring sign amid worries over deepening economic woes in China. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.7 percent, but was still poised to lose 0.4 percent for the week in which it logged three-year lows as plunging Chinese shares sent financial markets into a tailspin.