Energy Stocks Gain in Asia as Traders Await Fed: Markets Wrap

Energy companies underpinned stock gains in Asia after a rally in crude oil, in an Asian session subdued by a Japanese holiday before the Federal Reserve’s policy decision.

Stocks in Hong Kong outperformed ahead of earnings from Tencent Holdings Ltd. An energy sub-index had the biggest gain in the MSCI Asia Pacific index, as well as in Australia. Crude and U.S. energy shares climbed overnight as the OPEC-led alliance of major oil producers accelerated the timeline for curbing a worldwide supply glut. The dollar retreated from a two-week high, while Treasuries were un-traded thanks to the Japan holiday.

Source link

Leave a Reply

Your email address will not be published.