Asian shares ride Wall Street surge
Asian shares on Thursday ride Wall Street surge as markets fell by a recent drum roll of deepening political and economic gloom, cheered upbeat U.S data and the Trump administration’s effort to shore up investor confidence.
- Japan’s Nikkei managed to pull out of bear market territory it had entered on Tuesday, surging 3.8 percent.
- Australian shares jumped 1.6 percent as trading resumed after the Christmas break.
- Dow Jones Industrial Average rocketing more than 1,000 points.
- MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.8 percent and away from eight-week lows.
Chinese blue chips gained 0.6 percent.
- The dollar was last off 0.4 percent at 110.95 yen.
- U.S. currency lost about 0.2 percent against the euro and the British pound, to $1.1382 and $1.2658.
- The dollar was down 0.2 percent at 96.840.
- Gold remained below a six-month peak hit during the previous session.
- Spot gold edged higher to $1,269.70
- Brent jumped more than 8.8 percent. Brent gave up 0.4 percent at $54.24 a barrel.
- U.S. crude on Wednesday rallied almost 8.7 percent. U.S. crude was last trading about half a percent lower at $45.99 a barrel.