Asian markets rise, fueled by Wall Street optimism and oil gains
Hong Kong, November 06, 2023, Asian markets made gains on Monday, following a positive week on Wall Street, which was driven by optimism about potential early interest rate cuts. US futures were on the rise, and oil prices also saw an increase. South Korean stocks surged by 4% to reach 2,463.91, while Japan's Nikkei 225 index gained 2.3% to reach 32,670.38. Hong Kong's Hang Seng added 1.6% to reach 17,944.91, and the Shanghai Composite index increased by 0.7% to reach 3,052.37. Australia's S&P/ASX 200 rose by 0.3% to reach 6,997.40, India's Sensex saw a 0.5% increase, and Bangkok's SET gained 0.2%.
In the world of commodities, a barrel of benchmark US oil rose by 46 cents to reach $80.97 in electronic trading on the New York Mercantile Exchange, following a slight dip to $80.51 per barrel on Friday. Meanwhile, Brent crude, the international trading standard, gained 36 cents to reach $85.25 per barrel.
Currency markets also saw movement, with the US dollar rising to 149.58 Japanese yen from 149.37 yen, and the euro's value increasing to $1.0739, up from $1.0728.