Asian Markets Turn Positive on Oil Gains, Gold Hovers Around $1252
All the major Asian indices are trading on a positive note on Wednesday and erases previous losses. The core reason behind the upward movement is the sharp rise in oil prices, which improves global sentiment. Gold fails to sustain above $1260 marks and currently trading around $1252 levels.
The Nikkei 225 index rallied 2.64% to 16,349.19 points on Wednesday, while Tokyo's broader Topix index surged 1.70% to 1,321.44 points.
Chinese equity markets also enjoyed an upbeat start on Wednesday, with Hong Kong's Hang Seng index rallying 2.38% to 20,991.29 points and the Shanghai Composite charging 1.44% higher to 3,066.97 points.
Australia's benchmark S&P/ASX 200 index was trading 1.40% higher at 5,045.90 points on Wednesday morning in Sydney.
New Zealand's S&P/NZX 50 index traded 0.63% higher at 6,769.69 points on Wednesday afternoon in Wellington.
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