HONG KONG/NEW YORK (Reuters) – Asian stocks rose on Tuesday, tracking a late Wall Street rally as governments eased coronavirus lockdowns while oil extended gains on expectations fuel demand would begin to pick up.
FILE PHOTO: People are seen on a pedestrian overpass with an electronic board showing the Shanghai and Shenzhen stock indexes, following an outbreak of the novel coronavirus in the country, at Lujiazui financial district in Shanghai, China March 13, 2020. REUTERS/Aly Song/File Photo
Brent crude rose 4.3% to $28.37 a barrel, up for a sixth straight day, and U.S. crude rose 1.38% to $21.77 a barrel, as countries began loosening coronavirus restrictions and crude supply cuts took effect.
“The market continues to price in the idea that things are improving,” said Gene McGillian, vice president of market research at Tradition Energy in Stamford, Connect