Asia Stocks inch up after Wall Street's Gains

Asian stocks edged up early on Wednesday following an overnight rise for US stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. 

 

Accordingly to Ripples Advisory ,Australian stocks were up 0.5 percent while South Korea's Kospi was flat. Japan's Nikkei was last down 1.1 percent. Overnight, the Dow rose 0.7 percent and Nasdaq added 0.9 percent. A perceived win by Democrat Hillary Clinton over Republican Donald Trump at the first presidential debate gave broader support to equities, although sliding oil prices were a drag on the energy sector. 

 

Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran dashed market expectations that the two major OPEC producers would find a compromise this week at a meeting in Algiers to help ease a global glut of crude.

 

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