Asian Markets Make Gains Tuesday

Asian markets are trading higher Tuesday.
Sydney’s S&P/ASX index was up 1.4% in midday trading, while the Hang Seng index in Hong Kong was 0.7% higher and Taiwan’s TSEC 50 was 0.5% higher. Seoul’s KOSPI index had lost 2.6%.
The markets in Tokyo and Shanghai remained closed Tuesday.
Tuesday’s modest gains in Asia are a spillover from Monday’s late surge on Wall Street, with all three major U.S. indexes finishing in positive territory. Investors appear to be encouraged by the gradual easing of lockdowns and other social restrictions imposed to deal with the novel coronavirus pandemic, raising hopes that consumer demand will begin to rise and hasten some form of economic recovery.
In oil futures trading, the price of West Texas Intermediate Crude, the U.S. benchmark, was $21.75 per barrel, a gain of 6.6%, while Brent crude, the international benchmark, was $28.33 per barrel, up 4%.

Source: Voice of America

Releated

Uganda’s Dairy Industry Suffers From Kenyan Ban

That Kenya is a lifeline for the dairy industry in Uganda is not in doubt.Therefore, when Kenya slapped the Mbarara based Lato Milk with an import ban early in the year, the effects were devastating for farmers in the neighbouring state.After several c…

Uganda Refinery Too Costly – CPI

Uganda’s decision to build a refinery has been discouraged on the basis that the facility is not only an expensive venture but also lowers the value of the East African Crude Oil Pipeline (EACOP).This is according to a report by UK-based think tank Cli…