Tuesday, 8 March 2016
Asia Shares Firm as oil, Commodities Regain Momentum
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Asian shares inched higher on Tuesday after global oil prices soared to three-month highs on growing hopes of more coordinated measures from oil-producing countries to stem tumbling prices.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent in early trade while Japan's Nikkei bucked the trend and dipped 0.3 percent.
Global oil markets jumped more than 5 percent on Monday, with Brent hitting a 2016 peak above USD 40 a barrel, after Ecuador said it was holding a meeting of Latin American crude producers as OPEC sought a higher anchor price for oil.