Asian Markets Rise

Hong Kong, Asian shares advanced Monday following Wall Street gains last week that were buoyed by hopes for early interest rate cuts.US futures were higher and oil prices gained. South Korean stocks surged 4% to 2,463.91.Japan’s Nikkei 225 index gaine…

Hong Kong, Asian shares advanced Monday following Wall Street gains last week that were buoyed by hopes for early interest rate cuts.

US futures were higher and oil prices gained. South Korean stocks surged 4% to 2,463.91.

Japan’s Nikkei 225 index gained 2.3% to 32,670.38.

The Hang Seng in Hong Kong added 1.6% to 17,944.91 and the Shanghai Composite index was up 0.7% at 3,052.37. Australia’s SandP/ASX 200 rose 0.3% to 6,997.40. India’s Sensex was 0.5% higher and Bangkok’s SET gained 0.2%.

A barrel of benchmark US oil rose 46 cents to $80.97 in electronic trading on the New York Mercantile Exchange. It fell $1.95 to $80.51 per barrel Friday. Brent crude, the pricing standard for international trading, gained 36 cents to $85.25 per barrel.

In currency trading, the US dollar rose to 149.58 Japanese yen from 149.37 yen. The euro cost $1.0739, up from $1.0728.

Source: Saudi Press Agency