Hopes for reopening the Strait of Hormuz push Asian shares higher, as oil prices hold above $100
Asian shares jumped and the price of crude oil was holding above $100 a barrel on Thursday as investors bet on hopes the U.S. and Iran will strike a deal allowing tankers to deliver crude from the Persian Gulf again.
Japan’s benchmark Nikkei 225 index jumped 4.6% to 62,243.88, while the Hang Seng in Hong Kong gained 1.2% to 26,531.35.
The S&P/ASX 200 in Australia was up 1.2% at 8,870.90.
In South Korea, the Kospi slipped 1.4% to 7,281.37 and traders sold to lock in profits after the benchmark jumped nearly 7% a day earlier to barrel past 7,000 for the first time.
Taiwan’s Taiex surged 1.7%.
-AP
