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Asian shares rise as Wall Street gains; oil retreats
Photo: AP

Asian shares and U.S. futures rose on Tuesday following a strong finish on Wall Street.

Oil prices, which had surged on Monday after the U.S. capture of Venezuelan President Nicolas Maduro, retreated slightly in early trading, News.Az reports, citing AP.

In Tokyo, the Nikkei 225 advanced 1.1% to 52,389.63, led by tech-related stocks, including precision tools maker Disco Corp., which jumped 5.3%.

South Korea’s Kospi climbed 0.8% to 4,495.49, boosted by gains in automakers and electronics companies.

Hong Kong’s Hang Seng surged 1.8% to 26,815.75, while Shanghai’s Composite index gained 1.1% to 4,069.38. In contrast, Australia’s S&P/ASX 200 slipped 0.4% to 8,697.10. Taiwan’s Taiex rose 1.2%, while India’s Sensex edged 0.1% lower.

Monday’s Wall Street gains were broad-based, with energy and banking stocks seeing particularly strong increases. Industrial companies and retailers also contributed to major index rises. The S&P 500 gained 0.6% to 6,902.05, just below its late-December record. The Dow Jones Industrial Average added 1.2% to a new record of 48,977.18, while the Nasdaq composite rose 0.7% to 23,395.82. Smaller companies outperformed larger indexes, with the Russell 2000 jumping 1.6%, signaling wider investor confidence.

Energy stocks and oil markets remained a key focus after Maduro’s capture. On Monday, U.S. crude rose 1.7% to $58.32 per barrel, and Brent crude climbed 1.7% to $61.76. However, early Tuesday trading saw prices pull back, with U.S. crude down 18 cents to $58.14 and Brent off 14 cents to $61.62.

Among energy companies, Chevron surged 5.1%, Exxon Mobil gained 2.2%, and Halliburton jumped 7.8%, following news that former President Donald Trump floated a plan for U.S. oil firms to help rebuild Venezuela’s oil industry.


News.Az 

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