Asian shares edge up on oil price recovery
Asian share markets opened higher on Thursday on the back of recovery in crude oil prices.
The rise was also attributed to record highs on Wall Street, a story by Reuters reported.
S&P 500 closed 0.43% higher at 2,173 points.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1%.
Japan’s Nikkei stock index <.N225> jumped 1.2 percent
Hang Seng index was trading at 22,025.72 up 0.65% or 143.24 points in early trade.
SGX Nifty edged lower and was trading down 0.05% at 8:29am IST.
Crude gained as much as 1 percent on Wednesday, after U.S. inventory data alleviated some fears of supply glut, though gave up some its gains in early Asian trade, Reuters story reported.
Brent crude was trading lower in Asian trading at $47.16 a barrel while U.S. crude was at $45.68.