Asian stocks rallied on Thursday, following yesterday’s uptrend in Europe and the US, with falling oil prices easing inflation concerns.
On the Wall Street, the S&P 500 jumped 2.6% yesterday, recording the biggest daily gains of the last 12 years after the slump of the previous days due to concerns about the impact of the war in Ukraine.
The rally followed the plunge in oil prices after the rally of the previous days that led prices to the highest levels since 2008. Brent fell 13.2% to the biggest daily drop in two years.
On the board, the Japanese Nikkei 225 index jumped 3.9% to 25,690.40 points.
In Hong Kong the Hang Seng gained 0.6%, while in mainland China the Shanghai Composite gained 1.2%.
South Korea’s Kospi gained 2.2%, while in Australia the S & P / ASX 200 gained 1.1%. Indicators in Singapore, Taiwan and Malaysia are also gaining ground.
Oil prices are recovering after heavy losses on Wednesday. Crude gained 1.4% to $ 111.50 a barrel in electronic trading, after yesterday’s $ 15 dip to $ 108.70 a barrel. Brent hits more than 2% at $ 116.12 a barrel in London, after diving $ 16.84 yesterday to $ 111.14 a barrel
Source: Capital
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