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Asian shares followed Wall Street higher on Tuesday on encouraging global economic data.
Benchmarks in Shanghai, Tokyo and Seoul all advanced. Oil prices advanced again, adding to Monday’s big gains.
The Shanghai Composite index rose 0.2 per cent to 3,177.60 points while Tokyo’s Nikkei 225 gained 0.2 per cent to 21,555.60. Hong Kong’s Hang Seng was 0.2 per cent higher at 29,626.04 and Seoul’s Kospi advanced 0.2 per cent to 2,173.65.
Sydney’s S&P-ASX 200 added 0.8 per cent to 6,264.10. Benchmarks in Taiwan, New Zealand and Southeast Asia also rose, reports AP.
On Wall Street, the benchmark Standard & Poor’s 500 index rose Monday for a third day, advancing 1.2 per cent to 2,867.19.
The Dow Jones Industrial Average jumped 1.3 per cent to 26,258.42. The Nasdaq composite climbed 1.3 per cent to 7,828.91. Bank of America gained 3.4 per cent and Intel rose 1.5 per cent.
The yield on the 10-year Treasury note rose sharply, to 2.47 per cent from 2.41 per cent late Friday. It also rose back above the yield on the three-month Treasury bill.
Benchmark US crude gained 32 cents to $61.91 per barrel in electronic trading on the New York Mercantile Exchange.
The contract surged $1.45 on Monday to close at $61.59. Brent crude, used to price international oils, rose 34 cents to $69.35 per barrel in London. It jumped $1.43 to $69.01 the previous session.
The dollar edged higher to 111.36 yen from Monday’s 111.35 yen. The euro declined to $1.1201 from $1.1213.