Asian markets track Wall Street gains, oil prices advance

People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Thursday, May 10, 2018. Asian markets were moderately higher Thursday on optimism from solid gains on Wall Street despite lingering concerns about the Iran nuclear deal and trade tensions between Asia and the U.S. (AP Photo/Vincent Yu)
People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Thursday, May 10, 2018. Asian markets were moderately higher Thursday on optimism from solid gains on Wall Street despite lingering concerns about the Iran nuclear deal and trade tensions between Asia and the U.S. (AP Photo/Vincent Yu)
People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Thursday, May 10, 2018. Asian markets were moderately higher Thursday on optimism from solid gains on Wall Street despite lingering concerns about the Iran nuclear deal and trade tensions between Asia and the U.S. (AP Photo/Vincent Yu)

TOKYO — Asian markets were moderately higher Thursday, tracking solid overnight gains on Wall Street despite lingering concerns about the U.S. withdrawal from the Iran nuclear deal and trade tensions between Asia and the U.S.

KEEPING SCORE: Japan's benchmark Nikkei 225 rose 0.3 percent to 22,486.01. Australia's S&P/ASX 200 gained nearly 0.3 percent to 6,123.50 while South Korea's Kospi added 0.3 percent to 2,451.48. Hong Kong's Hang Seng was up 0.9 percent to 30,805.88 and the Shanghai Composite gained 0.2 percent to 3,165.11. Shares were higher in most other markets apart from Singapore.

WALL STREET: The S&P 500 index rose 1 percent to 2,697.79, nudging into positive territory for the year. The Dow Jones industrial average posted its fifth gain in a row, 0.8 percent, to 24,542.54. The Nasdaq added 1 percent to 7,339.91 and the Russell 2000 index of smaller-company stocks picked up 0.6 percent to 1,596.05.

THE QUOTE: "Markets are trading within a range bound by a number of factors. Rising yields, a strengthening dollar and some geopolitical uncertainty aren't allowing it to run its own race. This is causing investors to tread with caution," Oriano Lizza, sales trader at CMC Markets in Singapore, said in a commentary

ENERGY: Benchmark U.S. crude oil added 59 cents to $71.73 a barrel in electronic trading on the New York Mercantile Exchange. It climbed $2.08, or 3 percent, to $71.14 per barrel on Wednesday. That's the highest level in nearly three and a half years. Brent crude, used to price international oils, gained 58 cents to $77.79 per barrel.

CURRENCIES: The dollar strengthened to 109.69 yen from 109.65 on Wednesday. The euro fell to $1.1872 from $1.1877.

People also read these

Investors to seek any hint of Yellen timetable on rate hikes

Aug 26, 2016

Investors to seek any hint in Yellen speech of a timetable for next rate hikes

Global stocks lower, except for Tokyo, on Yellen speech

Aug 29, 2016

Most global stocks slipped Monday on remarks from the U.S. Federal Reserve late last week that the case has strengthened for raising interest rates, but the Tokyo market was an exception and gained on prospects for a strong dollar

Iowa at center of debate over 'shadow insurance' deals

Aug 30, 2016

Life insurance companies are setting up "shadow insurers" to take on some of their liabilities and free up some of their reserves

Subscribe to our newsletter!

Your Name

Your Email Address