Asian stock markets rallied on Tuesday after oil prices hit a six-month high following sign the global supply glut is easing.
Brent crude, the international benchmark, is trading close to $50 per barrel while West Texas Intermediate (WTI), the US benchmark, is around $48.
Oil prices have gained more than 80% since hitting a 12-year-low earlier this year.
Japan's benchmark Nikkei 225 closed 1.1% higher at 16,652.80.
In Australia, the commodities-heavy benchmark S&P ASX 200 index rose 0.7% to end at 5,395.90, led by gains in energy-related shares.
In South Korea, the Kospi index swung between gains and losses before closing flat at 1,968.06.
In Greater China markets, the Shanghai Composite index was up 0.1% while Hong Kong's Hang Seng was 0.7% higher.
Brent crude, the international benchmark, is trading close to $50 per barrel while West Texas Intermediate (WTI), the US benchmark, is around $48.
Oil prices have gained more than 80% since hitting a 12-year-low earlier this year.
Japan's benchmark Nikkei 225 closed 1.1% higher at 16,652.80.
In Australia, the commodities-heavy benchmark S&P ASX 200 index rose 0.7% to end at 5,395.90, led by gains in energy-related shares.
In South Korea, the Kospi index swung between gains and losses before closing flat at 1,968.06.
In Greater China markets, the Shanghai Composite index was up 0.1% while Hong Kong's Hang Seng was 0.7% higher.
No comments:
Post a Comment