Asian stocks track Oil, Wall Street higher

The stocks on the Asian bourses rose for a second day this Tuesday as the overnight rally in the oil prices as well as a strong close on the Wall Street underpinned the sentiment.

Moreover, markets cheer a steadily higher greenback and higher commodities’ prices, which helps boost the resource, energy and exports-oriented stocks. While attention gradually shifts towards a bunch of significant US economic data, including the key CPI figure, which may provide fresh insights on the Fed’s interest rates outlook.

Nikkei keeps pushing higher, 17k mark back in sight?

Meanwhile, the Japanese benchmark index, the Nikkei 225 extends the previous rally +an jumps +0.90% to 16,615 points, ignoring a modestly flat USD/JPY pair. Australia’s ASX 200 index advances 0.69% to 5,395 points, with the upside restricted as markets are pricing-out RBA cuts after today’s minutes release.

While the Chinese equities buck the trend and tick lower, with the benchmark Shanghai Composite index dropping -0.33% to 2,841, the CSI300 index slips -0.42%, while Hong Kong’s Hang Seng trades largely muted around 19,880 levels.