Asian shares rise moderately as oil prices recover
Asian shares rose moderately Thursday following a rally on Wall Street and even oil prices recovering from their recent plunge to zero.
- Japan’s benchmark Nikkei 225 added 1.2% to 19,370.42 in morning trading.
- South Korea’s Kospi rose 06% to 1,907.92.
- Australia’s S&P/ASX 200 also added 0.6% to 5,252.20.
- Hong Kong’s Hang Seng edged up 0.7% to 24,066.68.
- The Shanghai Composite inched up 0.2% to 2,850.80.
- The S&P 500 rose 62.75 points, or 2.3%, to 2,799.31 and trimmed its loss for the week to 2.6%.
- The Dow Jones Industrial Average climbed 456.94, or 2%, to 23,475.82, and the Nasdaq composite picked up 232.15, or 2.8%, to 8,495.38.
- The dollar rose to 107.75 Japanese yen from 107.66 yen Wednesday.
- The euro fell to $1.0821 from $1.0863.
Energy stocks jumped to some of the market’s biggest gains, riding the ripple of strengthening oil prices. Halliburton, Apache and Diamondback Energy all added at least 9%. All three, though, are still down more than 60% for the year so far.
Benchmark crude added 41 cents to $14.19 a barrel. The price of a barrel of U.S. oil to be delivered in June jumped 19% to settle at $13.78 on Wednesday.