Asian stock markets rise, oil prices plummet



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Asian stock markets rise, oil prices plummet



ASIAN STOCK EXCHANGE stock prices rose as investors were encouraged by yesterday's Wall Street growth and because tensions in the Middle East had not increased further.

The Asia-Pacific MSCI index, excluding Japan's, was up about 7.00 plus 0.6 percent, offsetting almost all of yesterday's losses.



At the Nikkei Tokyo Stock Exchange, the index jumped 1.5 percent, while stock prices in Hong Kong, Shanghai, Singapore, South Korea and Australia rose between 0.4 and 1.2 percent.

Wall Street stabilization

Asian investors were encouraged by yesterday's rise in stock indexes on Wall Street.

However, at the very beginning of yesterday's trading, indices slipped into negative territory due to tensions in the Middle East, after a powerful Iranian general, Kasem Suleimani, was killed in a US air strike in Baghdad on Friday and Iran announced revenge.

But soon the world's largest stock market stabilized, so indices offset the initial losses.

“Geopolitical tensions lowered indexes from record levels on Friday, but as conflicts escalated in the meantime, Wall Street ended with gains. This is thanks to the start of the new year and the inflow of fresh capital into the market,” says Michael Antonelli, a strategist at Robert W. Baird.

The dollar strengthened against the yen, weakened against the euro

And in the currency markets, the dollar weakened slightly against the basket of currencies this morning. Its index, which shows the value of the US against the other six major world currencies, is around 97.64 points.

At the same time, the dollar against the Japanese currency, which has strengthened in recent days as it is considered a safer haven for capital in uncertain times, rose to 108.42 yen, while yesterday it slipped to 107.75 yen.

But the US currency has weakened slightly against the European currency, so the price of the euro reached $ 1.1195 this morning.

Oil prices, however, plummeted after yesterday's sharp rise due to tensions in the Middle East, which could hurt oil supplies in the area.

This morning, the price of the barrel in the US market fell 44 cents to $ 62.83, while in the London market it slid 54 cents to $ 68.37.

Asian stock markets rise, oil prices plummet

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