- Asian shares inched higher on Tuesday after global oil prices soared to three-month highs on growing hopes of more coordinated measures from oil-producing countries to stem tumbling prices.
- Asian stocks were mixed Tuesday morning as Japan reported its economy contracted less than originally estimated in the fourth quarter and oil surged to $40 a barrel, its highest this year.
Japan's Nikkei 225 dropped 0.7 percent, South Korea's KOSPI 0.2 percent and Singapore's STI 0.5 percent. Australia's ASX 200 bucked the downswing and was little changed as oil's rise helped boost mining and energy shares.
In the U.S. on Monday, the Dow Jones Industrial Average rose 0.4 percent and the Standard & Poor's 500 0.09 percent. The Nasdaq Composite slipped 0.2 percent.
In Europe, stock markets fell on the back of weak German manufacturing data and general investor caution ahead of the upcoming ECB meeting on Thursday. The DAX gave up 0.46%, the CAC 40 fell 0.32% and in the UK the FTSE 100 closed down 0.27%
Reference: Reuters, Ibitimes, MKS Group
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