Asian shares bounce back from trade fears

Published: July 12, 2018 11:13:43 | Updated: July 13, 2018 15:57:24


Asian shares rose Thursday following Wall Street's decline amid US-Chinese trade tensions and oil prices recovered some of the previous day's steep losses.

The Shanghai Composite Index rose 1.1 per cent to 2,809.42 and Tokyo's Nikkei 225 gained 1.2 per cent to 22,181.13. Sydney's S&P-ASX 200 added 0.7 per cent to 6,258.00.

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Seoul's Kospi advanced 0.4 per cent to 2,289.31. Benchmarks in Taiwan and Southeast Asia also rose. Hong Kong's Hang Seng was unchanged at 28,309.61. New Zealand declined, reports AP.

The S&P 500 index lost 0.7 per cent to 2,774.02. The Dow Jones Industrial Average dropped 0.9 per cent to 24,700.75. The Nasdaq composite fell 0.5 per cent to 7,716.61.

Benchmark US crude gained 37 cents to $70.75 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $3.27 on Wednesday to close at $70.38.

Brent crude, used to price international oils, gained $1.25 to $75.65 per barrel in London. It lost $5.36 the previous session to $73.40.

The dollar gained to 112.27 yen from Wednesday's 111.99 yen. The euro edged up to $1.1675 from $1.1673.

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