Asian stocks rally
23 December 2015, Nirapad News: Asian stocks rallied Wednesday in light trading following gains on Wall Street and stabilisation of crude oil. Hong Kong’s benchmark Hang Seng index climbed 1.2 per cent to 22,086.08 while South Korea’s Kospi gained 0.6 per cent to 2,005.32. The Shanghai Composite Index in mainland China added 0.3 per cent to 3,662.69 and Australia’s S&P/ASX 200 rose 0.9 per cent to 5,163.70. Japanese markets were closed for a holiday.
Oil prices are staging a modest recovery that’s helping lift energy and material stocks. US crude oil futures rose 21 cents, or 0.6 per cent, to $36.35 in electronic trading on the New York Mercantile Exchange. The contract closed up 33 cents to $36.14 a barrel Tuesday on the New York Mercantile Exchange. Brent crude, which is used to price international oils, added 27 cents to $36.38 a barrel in London, according to AP.