Asian stocks soar as crude dip shrugged off

Asian stocks soar as crude dip shrugged off

On Thursday, Asian stocks managed to rise, shrugging off a 2% tumble overnight in oil prices and also picking up some momentum on prospects of a descending greenback as the Fed debates the pace of American economic surge and inflation.

The Nikkei 225 picked up 0.01%.

Stocks of Toshiba declined a bit more than 2%.

Australia's S&P/ASX 200 rose 0.42%, with materials and energy stocks demonstrating signs of revival after selling off in the previous trading session.

Meanwhile, financial markets in greater China stood in the green with the Hang Seng Index gaining 0.08% and the Shanghai Composite reporting a 0.16% profit.

Overnight, American shares concluded mixed, suppressed by a third-straight day of dipping crude prices which put pressure on the broader market, while a  sudden uptick in American existing home sales failed to spur sentiment.

The sink in energy stocks overshadowed upbeat economic data, demonstrating that sales of existing homes inched up 1.1% in May, hitting an annual rate of 5.62 million.


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