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SEOUL, South Korea (AP) — European stock markets got off to a solid start Wednesday as U.S. futures pointed to a rebound on Wall Street. Asian markets closed lower, dented by weak earnings in Australia, a jump in oil prices and volatility in Chinese stocks.
Philippine and Japanese coast guard teams staged an anti-piracy drill on Wednesday, featuring the storming of a cargo vessel after a mock hijack, in a show of maritime cooperation between the two nations amid rising tension in Asian waters. Both nations face a challenge from China's growing assertiveness over territorial claims in the South China Sea and the East China Sea, where it uses coast guard and fishing vessels to press into disputed areas. Wednesday's drill was the first held by Japan and the Philippines after signing a strategic partnership pact in 2012. The exercises in Manila Bay were watched by the coast guard chiefs of 17 Asian nations, including China, who are meeting to find ways to cooperate in boosting safety and battling piracy and transnational crime.
BRUSSELS (AP) — The European Union has unveiled a strategy to unify the continent's digital sector and help its technology companies compete with the dominant U.S. firms. It will also open an antitrust inquiry into the e-commerce sector.