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 2 | Version 3 |
---|---|
Asian markets boosted by oil price rally | Asian markets boosted by oil price rally |
(about 3 hours later) | |
Most Asian markets rose after US crude prices climbed for a fourth straight day, raising hopes the slump in oil prices could be nearing an end. | |
Brent crude rose nearly 6% in New York trading 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 rose 2% to 17,678.74 and the broader Topix gained 1.8% to close at 1,417 points on Wednesday. | 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 closed 1.2% higher at 5,777.34 due to a jump in energy and mining shares. | Australia's S&P/ASX 200 closed 1.2% higher at 5,777.34 due to a jump in energy and mining shares. |
South Korea's Kospi rose 0.55% to close at 1,962.79. | 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". | 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." |
Trading update | Trading update |
In China, stocks fell after 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. A level above 50 indicates expansion. | 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. |
The Shanghai Composite closed down 1% at 3,174.13. | |
But in Hong Kong, the benchmark Hang Seng index rose 0.5% to finish at 24,679.76 - following the uptrend in the rest of the region. | |
Taiwan's stock exchange also announced it was 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 were 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. |