Thursday, 26 May 2016

Asia Markets Mostly Higher; Nikkei up 0.8%, Kospi up 0.3%

Asia markets opened higher on Thursday, led by advances in the energy sector, after overnight gains in oil prices pushed US stocks higher.

In Japan, the Nikkei 225 traded up 0.75 percent, while across the Korean Strait, the Kospi was higher by 0.34 percent. Down Under, the S&P/ASX 200 gave up most of its nearly 0.4 percent gains to trade flat.

Oil prices gained in the US session after US government data showed a larger-than-expected drop in crude inventories.

Reuters reported the U.S. Energy Information Administration said crude inventories fell 4.2 million barrels in the week to May 20. Analysts polled by Reuters expected a drop of 2.5 million barrels in inventory.

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