This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-31124581

The article has changed 4 times. There is an RSS feed of changes available.

Version 1 Version 2
Asian markets boosted by oil price rally Asian markets boosted by oil price rally
(about 3 hours later)
Asian markets are mostly rising after US crude prices climbed for a fourth straight day, raising hopes the oil price crash may be nearing an end. Most Asian markets rose after US crude prices climbed for a fourth straight day, raising hopes the slump in oil prices may be nearing an end.
Brent crude gained nearly 6% in New York to settle at $57.91 per barrel, its highest level this year. Brent crude rose nearly 6% in New York trading to settle at $57.91 per barrel, its highest level this year.
Japan's Nikkei 225 and the broader Topix both rose more than 2% while South Korea's Kospi rose 0.7%. Japan's Nikkei 225 rose 2% to 17,678.74 and the broader Topix gained 1.8% to close at 1,417 points on Wednesday.
Australia's S&P/ASX 200 gained 1% due to a jump in energy shares and optimism from yesterday's interest rate cut. Australia's S&P/ASX 200 closed 1.2% higher at 5,777.34 due to a jump in energy and mining shares.
However, some analysts warned that the oil rally does not "spell an all-clear". South Korea's Kospi rose 0.55% to close at 1,962.79.
However, some analysts warned that the oil rally did not "spell an all-clear".
"Oil prices have shown unusually sharp swings over the last few months, which are typical of markets trying to find a new equilibrium," Chang Weiliang from Mizuho wrote in a report."Oil prices have shown unusually sharp swings over the last few months, which are typical of markets trying to find a new equilibrium," Chang Weiliang from Mizuho wrote in a report.
"For one, US shale producers remain a game-changer, with their flexibility to add or cut operating oil rigs likely to keep the longer-term volatility of oil under wraps.""For one, US shale producers remain a game-changer, with their flexibility to add or cut operating oil rigs likely to keep the longer-term volatility of oil under wraps."
Investors will also be watching for major earnings from Japan this week, including Toyota Motors, Yahoo Japan and Mitsubishi. Investors will also be watching for results from major companies in Japan this week, including Toyota Motors, Yahoo Japan and Mitsubishi.
Trading updateTrading update
In China, stocks also rose despite data showing the mainland's services sector grew at its slowest pace in six months in January.In China, stocks also rose despite data showing the mainland's services sector grew at its slowest pace in six months in January.
China's purchasing managers' index for the services sector slowed to 51.8 last month from 53.4 in December, according to a private survey by HSBC. China's purchasing managers' index for the services sector slowed to 51.8 last month from 53.4 in December, according to a private survey by HSBC. A level above 50 indicates expansion.
Any level above 50 reflects expansion while any figure below indicates a contraction.
Hong Kong's Hang Seng index rose 0.8% and the Shanghai Composite was up 0.3% at midday trade.Hong Kong's Hang Seng index rose 0.8% and the Shanghai Composite was up 0.3% at midday trade.
Taiwan's stock exchange also announced it is widening the daily stock trading limit to 10% from 7% starting from 3 August. Taiwan's stock exchange also announced it was widening the daily stock trading limit to 10% from 7% starting from 3 August.
The country's Financial Supervisory Commission said the changes are aimed at attracting more investors and market liquidity. The country's Financial Supervisory Commission said the changes were aimed at attracting more investors and market liquidity.
The benchmark Taiex Index rose 0.7% on Wednesday.The benchmark Taiex Index rose 0.7% on Wednesday.