Asian markets have kicked off Tuesday’s session higher, following overnight gains in the US markets.
Here are the opening numbers from around Asia:
- Japan’s Nikkei 225 index surged 3.25% – or 529.35 points – to 16,805.30
- Over in South Korea the benchmark Kospi index opened up 0.37% at 2,016.55
- In Australia the commodities-heavy benchmark S&P ASX 200 opened higher by 1.27% at 5,202.50
- Oil prices also recovered overnight. The international oil benchmark Brent settled down 0.4% lower at $42.91 a barrel, after falling $3 earlier
As for stocks on the move, shares of commodity-related firms have recovered from Monday’s losses. BHP Billiton shares opened up 3.64% higher, after a 3% loss on Monday.
Meanwhile, a quarterly update from the mining company Rio Tinto showed an 11% rise in iron ore shipments for the three months to March. And the company has cut its production guidance for next year, from its iron ore mines in Australia. That is due to a delay in the rollout of new transport technology for its operations at the Pilbara mines. Rio Tinto shares traded higher at the open, up by 1.96%.
US stocks closed higher overnight lifted by strong earnings from toy company Hasbro, as well as a recovery in oil prices. The Dow Jones rose 106.7 points to 18,004.16, its first close above 18,000 since July.
Internet firm Yahoo will release quarterly earnings later today after the close of US markets. Attention will heavily be focused on what the company plans to do with its media assets, and if any announcements will be made on that front. According to various media reports, potential suitors range from private equity firm TPG to the owner of the UK’s Daily Mail.
Other American companies reporting quarterly earnings today include motorcycle manufacturer Harley Davidson and tobacco firm Philip Morris. Financial heavyweight Goldman Sachs will announce first quarter earnings before the start of regular trade on Wall Street.