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Asian shares advance as Egypt worries ease

Asian shares advance as Egypt worries ease
AP
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First Published: Tue, Feb 01 2011. 09 03 AM IST
Updated: Tue, Feb 01 2011. 09 03 AM IST
Tokyo: Asian shares moved higher Tuesday as overnight gains on Wall Street helped eased worries about political unrest in Egypt.
Japan’s Nikkei 225 stock average rose 0.4% to 10,275.56, rebounding from a sharp drop the previous day. Higher crude prices sent oil-related shares climbing.
Elsewhere, South Korea’s Kospi added 0.7% to 2,084.76, and Australia’s S&P/ASX 200 was up 0.2% to 4,763.60.
In New York Monday, the Dow Jones industrial average gained 68 points, or 0.6%, to close at 11,891.93. Energy stocks led indexes higher Monday after Exxon Mobil Corp. reported its most profitable quarter since 2008.
The broader Standard and Poor’s 500 index rose 0.8% to 1,286.12. The Nasdaq composite index gained 0.5% to 2,700.08.
In currencies, the dollar was trading at ¥82.03 from ¥82.04 late Monday. The euro stood at $1.3722 from $1.3689.
Benchmark crude for March delivery slipped 34 cents to $91.85 a barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $2.85 to settle at $92.19 Monday.
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First Published: Tue, Feb 01 2011. 09 03 AM IST
More Topics: Asia | Asian shares | Egypt | Crude | Wall Street |