|Published : 20 Apr 2017, 10:13:07|
Asian shares rise after oil price rebound
Asian shares were mostly higher on Thursday after crude oil prices rebounded from an overnight sell-off and Japan reported stronger-than-expected exports in March.
Easing tensions over North Korea helped brighten the mood after weeks of jitters over the US response to Pyongyang's missile tests and nuclear weapons program.
Japan's Nikkei 225 index gained 0.2 per cent to 18,474.64 and the Kospi in South Korea rose 0.4 per cent to 2,147.16. Hong Kong's Hang Seng index climbed 0.3 per cent to 23,905.35.
Australia's S&P ASX 200 edged 0.1 per cent higher to 5,812.30. The Shanghai Composite index lost 0.2 per cent to 3,164.78 and Southeast Asian benchmarks were mixed.
Benchmark US crude gained 32 cents to $51.17 a barrel in electronic trading on the New York Mercantile Exchange. It lost $1.97, or 3.8 per cent overnight, to $50.44 a barrel.
Brent crude, used to price international oils, jumped 39 cents to $53.32 a barrel. It fell $1.96, or 3.6 per cent, to $52.93 per barrel in London.
US stocks gave up a promising start and finished mostly lower Wednesday as investors fretted over lagging wages and energy companies dropped with the price of oil.
The S&P 500 index shed 0.2 per cent to 2,338.17 and the Dow Jones industrial average gave up 0.6 per cent, to 20,404.49. The Nasdaq composite added 0.2 per cent to 5,863.03.
The dollar rose to 108.95 yen from 108.86 yen. The euro rose to $1.0716 from $1.0712, according to AP.