Market Report - Shares Rally on Dollar, Oil

ZHANG:
Asian shares took heart Monday from a stronger dollar and lower oil prices, which boosted investor confidence in regional exporters.

Crude oil fell to around $134 a barrel, as Saudi Arabia prepared to boost output to its highest in decades to try to keep pace with demand.

Across the region, energy-related shares like Australia's Woodside Petroleum and Japan's Nippon Oil declined, but most major stock indices were higher.

In Japan, Mitsubishi Motors gained with the yen's decline against the greenback. Mitsubishi was also helped by a report that it would forge an electric vehicle tie up with France's Peugeot Citroen. Building stocks like Tohoku Misawa Homes also rose after a weekend earthquake rocked northern Japan.

Korean exporters like tech giant Samsung rose on U.S.-linked optimism, boosting the KOSPI on the day.

Hong Kong shares rallied from the benchmark's lowest close since March 25, with Sinopec rising as falling oil prices are expected to improve refining margins.

Category:

News & Politics

Tags:

• ntd
• market
• report
• rally
• dollar
• oil
• prices
• saudi
• arabia

[DayTradersWin]

You may be interested in day trading, day trader, day trade videos - technical analysis - for wealth building