Asian stocks ride Wall Street rally, oil extends gains
Asian stocks rose on Tuesday in the wake of solid gains in US markets overnight, while the Japanese yen briefly strengthened after a powerful earthquake rocked northern Japan. Oil extended gains in Asian trading with US West Texas Intermediate (WTI) up 0.73 percent in early deals as the dollar pulled back. Prices surged 4 percent to a three-week high on Monday. Comments by Russian President Vladimir Putin that raised expectations major oil producing countries could reach a deal to limit output at a meeting next week also spurred the jump in oil prices.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.53 percent, pulled up by a 1.0 percent rally in Australian shares. Asian stocks, Japan, Korean shares are also seen gaining in opening trades. A powerful earthquake that rocked northern Japan on Tuesday appeared to have been taken in stride by investors. The benchmark Nikkei average was off a touch and the yen ticked up a shade against the US dollar, although still near a five-month low hit earlier in the session.
Asian stocks rose on Tuesday in the wake of solid gains in US markets overnight, while the Japanese yen briefly strengthened after a powerful earthquake rocked northern Japan. Oil extended gains in Asian trading with US West Texas Intermediate (WTI) up 0.73 percent in early deals as the dollar pulled back. Prices surged 4 percent to a three-week high on Monday. Comments by Russian President Vladimir Putin that raised expectations major oil producing countries could reach a deal to limit output at a meeting next week also spurred the jump in oil prices. 
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