Asian stock markets advanced on Tuesday, extending the global market recovery after Wall Street posted its strongest single-day gain since April. Investor sentiment improved amid easing concerns over geopolitical tensions in West Asia, following US President Donald Trump's decision to hold off on launching fresh military strikes against Iran. The positive sentiment was also supported by a decline in crude oil prices, which eased concerns over potential disruptions to global energy supplies.
\n\nFurther, the lower oil prices are particularly significant for major oil-importing economies such as India, Japan and South Korea, as they help ease inflationary pressures and reduce the risk of higher input and transportation costs. The decline in energy prices also offered some relief to global markets, which have been sensitive to developments in the Middle East.
\n\nJapan's benchmark Nikkei 225 rose 2.6% to 60,279.37, while South Korea's Kospi climbed 4% to 5,219.37 while Taiwan's Taiex gained 3.4%. Hong Kong's Hang Seng advanced 0.4% to 24,535.74, and the Shanghai Composite edged 0.4% higher to 3,673.54.
\n\nFurther, Australia's S&P/ASX 200 rose 1.1% to 9,131.70. Meanwhile, MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.5% in early trading, according to Reuters.
\n\nSoftBank Group shares jumped 15% ahead of…
Original source: https://www.timesnownews.com/business-economy
