Economic news

Asian shares extend gradual recovery

Asian stocks rose on Tuesday, buoyed by tech sector as generally upbeat corporate results overcame weakness in the global smartphone market and worries over more regulation.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares leaped 0.6 percent.

Japan’s Nikkei inched up 0.3 percent.

Hong Kong’s Hang Seng Index soared 1 percent. South Korea’s Kospi index advanced 0.7 percent. Australian stocks gained 0.4 percent.

On Wall Street overnight, the S&P 500 surged 0.35 percent, supported by Apple’s sixth day in a row of gains.

Oil prices slipped, a day after touching 3-1/2 year peak, as traders awaited President Donald Trump’s decision on whether to withdraw from the Iran nuclear deal, a step that could hit global crude supply.

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