Economic news

Asian shares begin new month with widespread gains

Asian stocks kicked off November in a positive territory, following strong session on Wall Street.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares climbed 0.7 percent, extending moderate gains in the previous session, though this relief came after a terrible October.

Japan’s Nikkei dipped 1 percent after two days of large gains. Hong Kong’s Hang Seng jumped 1.5 percent and the Shanghai Composite Index ticked up 0.2 percent.

Australia’s ASX 200 was up 0.3 percent and benchmark index in South Korea advanced.

U.S. stocks surged for a second session overnight as solid company earnings and a rebound in technology and internet stocks improved sentiment.

In commodities, U.S. WTI futures slid 0.6 percent to $64.93 a barrel and benchmark Brent crude slumped 0.63 percent to $74.57 a barrel.

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