Asian Stocks Rise, Japan’s Nikkei 225 Lead Gains
Shares in Asia-Pacific largely rose on Tuesday, with shares in Japan leading gains among the region’s major markets.
In Japan, the Nikkei 225 jumped 3.12% to close at 28,884.13, largely recovering from a more than 3% tumble on Monday. The Topix index gained 3.16% to 1,959.53.
Mainland Chinese stocks edged higher on the day as the Shanghai composite gained 0.8% to 3,557.41 while the Shenzhen component rose 0.376% to 14,696.29. Hong Kong’s Hang Seng index lagged the broader region’s gains, slipping about 0.3% as of its final hour of trading.
South Korea’s Kospi advanced 0.71% to close at 3,263.88. Over in Australia, the S&P/ASX 200 gained 1.48% to end the trading day at 7,342.20.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.18%.
Overnight on Wall Street, the Dow Jones Industrial Average jumped 586.89 points to 33,876.97. The S&P 500 also rose 1.4% to 4,224.79 while the Nasdaq Composite advanced 0.79% to 14,141.48.
Asian Markets Currencies and Oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was 91.992, following an earlier low of 91.877.
The Japanese yen traded at 110.40 per dollar, weaker than levels below 110 seen against the greenback yesterday. The Australian dollar changed hands at $0.751, still off levels above $0.768 seen last week.
Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019. Investors remained bullish about a quick recovery in global oil demand, and concerns eased over an early return of Iranian crude.
Brent crude futures for August climbed 29 cents, or 0.4%, to $75.19 a barrel by 0658 GMT, paring earlier losses. It rose as high as $75.27 a barrel, the strongest since April 25, 2019, earlier in the session.
U.S. West Texas Intermediate (WTI) crude for July was at $73.66 a barrel, unchanged from the previous session. WTI for August climbed 13 cents, or 0.2%, to $73.25 a barrel.