Wall Street Cues, Tech Strength, Easing Oil Bills Lift Asian Stock Markets

MT Newswires Live
Yesterday

Asian stock markets extended gains Tuesday, as oil prices eased further and tech issues won favor after overnight rallies on Wall Street.

Hong Kong and Shanghai edged higher, while Tokyo remains closed on holiday until Thursday. Most other regional exchanges finished in the green.

Brent crude oil futures declined 2.3% to $98.03 a barrel during Asian market hours.

In geopolitical news, China President Xi Jinping is slated to arrive in Washington on Wednesday to meet with President Donald Trump, raising hopes of better relations between the economic behemoths.

In Hong Kong, the Hang Seng Index closed up 0.2%, undergirded by firming tech shares.

The broad gauge Hang Seng rose 45.04 to 25,087.75, although losing issues outnumbered gainers 61 to 28. The Hang Seng TECH Index gained 0.3% on the day, while the Mainland Properties Index fell 0.6%.

Leading the upside was digital media giant Tencent, up 5%, while delivery service ZTO Express declined 5%.

On the mainland, the Shanghai Composite rose 0.1% to 3,952.13.

On the other regional exchanges, the South Korean KOSPI rose 0.2%; the Taiwan TWSE gained 0.2%; the Australian ASX 200 rose 0.3%; the Singapore Straits Times Index rose 0.9%, and the Thai Set advanced 0.4%. In late trading in Mumbai, the Sensex was down 0.3%.

The MSCI All Country Asia Pacific Index rose 0.6% on the day.

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