Arab Today, arab today asian markets up energy firms recover as oil stabilises
Last Updated : GMT 00:34:17
Arab Today, arab today
Arab Today, arab today

Asian markets up, energy firms recover as oil stabilises

Arab Today, arab today

Arab Today, arab today Asian markets up, energy firms recover as oil stabilises

Asian shares rose Tuesday
Tokyo - AFP

 Asian shares rose Tuesday, with energy firms clawing back some losses as oil prices recovered from multi-year lows, while Shanghai surged to a three-year high on hopes for more Chinese government easing.
The Russian ruble strengthened slightly against the dollar after suffering its worst one-day fall in 16 years, battered by falling crude prices and Western sanctions over Ukraine.
Tokyo added 0.42 percent, or 73.12 points, to end at a seven-year high of 17,663.22. Analysts said dealers were broadly unfazed by a decision from Moody's ratings agency to downgrade Japan's credit rating.
Sydney jumped 1.41 percent, or 73.6 points, to close at 5,281.3, boosted by the rally in energy firms after their huge losses in the previous two sessions. Seoul rose 0.61 points to 1,965.83.
Shanghai soared 3.11 percent, or 83.39 points, to 2,763.55 -- its highest since July 2011 -- and Hong Kong rose 1.23 percent, or 286.85 points, to 23,654.30.
Oil prices edged down in Asia but were still well off their five-year lows touched on Monday before recovering on bargain-buying.
In Asian trade US benchmark West Texas Intermediate for January delivery fell 50 cents to $68.50, while Brent crude for January was down 76 cents at $71.75.
Both contracts rallied late Monday to pare earlier losses that had seen WTI hit a trough of $63.72 and Brent touch $67.53.
Prices have plummeted since Thursday's decision by the OPEC oil cartel to maintain existing output levels despite a global supply glut.
While prices are edging down again, energy giants enjoyed some buying interest after a painful sell-off on Friday and Monday.
Sydney-listed BHP Billiton rose 3.9 percent, Woodside added 1.9 percent and Santos gained 0.9 percent, while in Hong Kong PetroChina was up 1.9 percent and CNOOC gained 1.1 percent.
- Ruble pushes up -
However airlines, whose main cost is fuel, suffered losses after recent advances. Cathay Pacific in Hong Kong dipped 1.5 percent and Seoul-based Korean Airlines shed 2.3 percent.
On currency markets, the ruble edged up slightly to 51.20 against the dollar from 52.00. On Monday the Russian unit plunged almost nine percent to 53.9 against the greenback, its worst one-day fall since the country's 1998 debt crisis.
It has now fallen nearly 60 percent against the dollar since the start of this year due to collapsing oil prices and Western sanctions over Russia's support for a separatist uprising in eastern Ukraine.
In other forex trading, the dollar was at 118.80 yen against 118.40 yen in New York Monday.
The euro sat at 147.86 yen compared with 147.64 yen, while it bought $1.2444 against $1.2469.
Shunichi Otsuka, general manager of research and strategy at Ichiyoshi Asset Management, said the yen and stocks were not badly hit by the Moody's downgrade Monday. The ratings agency cited Tokyo's debt problems and the government's faltering efforts to boost the economy.
"Little of Japan's debt is held by foreigners, so unless there is a surprise upward impact on interest rates, the picture for equity investing should not be much harmed," Otsuka told Dow Jones Newswires.
Shares in Hong Kong and Shanghai were boosted by hopes that Monday's weak index of manufacturing activity in China will prompt the country's leaders to unleash fresh stimulus measures, after the central bank last month announced a shock interest rate cut.
Wall Street provided a limp lead as US investors ran for the sidelines Monday after the Thanksgiving holiday weekend saw disappointing sales on the key Black Friday retail day, which officially kicks off the Christmas shopping season.
The Dow eased 0.27 percent, the S&P 500 fell 0.68 percent and the Nasdaq sank 1.34 percent.
Gold was at $1,198.25 an ounce Tuesday, compared with $1,156.80 late Monday.
In other markets:
-- Mumbai fell 0.40 percent, or  115.61 points, to end at 28,444.01.
Utility company GAIL fell 2.85 percent to 465.35 rupees, while aluminium major Hindalco rose 2.51 percent to 171.40 rupees.
-- Bangkok ended flat, up just 0.01 percent, or 0.18 points, to 1,594.00.
Bangchak Petroleum fell 2.90 percent to 33.50 baht, while supermarket operator Big C Supercenter dropped 2.33 percent to 251.00 baht.
-- Jakarta ended up 0.22 percent, or 11.51 points, at 5,175.79.
Lender Bank Permata gained 1.31 percent to 1,550 rupiah, while palm oil firm Sinar Mas Agro Resources and Technology fell 6.25 percent to 7,500 rupiah.
-- Taipei fell 0.91 percent, or 82.92 points, to 9,034.79.
Taiwan Semiconductor Manufacturing Co shed 1.79 percent to Tw$137.5 while Hon Hai Precision Industry slipped 2.73 percent to Tw$92.7.
-- Wellington was flat, edging up 0.41 points to 5,430.04.
Mainfreight added 0.13 percent to NZ$15.60 and Ryman Healthcare was down 0.88 percent at NZ$7.90.
-- Manila edged up 0.17 percent, or 12.50 points, to 7,344.23.
Universal Robina Corp. rose 0.15 percent to 196.10 pesos, Ayala Corp. was also 0.15 percent higher at 690.00 pesos and BDO Unibank advanced 0.83 percent to 109.40 pesos.
-- Kuala Lumpur ended 0.43 percent higher, a day after it suffered its worst one-day drop in nearly two years. The index closed up 7.70 points at 1,785.97.
SapuraKencana Petroleum gained 1.99 percent to close at 2.56 ringgit, while UMW Oil and Gas rose 6.44 percent to 2.48 ringgit.
-- Singapore closed up 0.50 percent, or 16.68 points, at 3,322.32.
Oil rig builder Sembcorp Marine gained 1.36 percent to Sg$2.99 while jet fuel supplier China Aviation Oil Singapore rose 3.03 percent to Sg$0.68.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian markets up energy firms recover as oil stabilises Arab Today, arab today asian markets up energy firms recover as oil stabilises

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Dalia Mustafa believes in the presence of ghosts

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 15:42 2017 Saturday ,18 March

HTC U Play now available in KSA

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday