Asian markets gain with Japan's Nikkei 225 index outperform; European markets open higher

29 Mar 2022 , 12:05 PM

Asian stock markets gained on Tuesday after surging in U.S. markets ahead of another round of peace talks between Russia and Ukraine and also declined in oil prices.

Hong Kong’s Hang Seng index jumped 0.73%, as casino and tech stocks rose.

Tokyo’s Nikkei 225 rose 1.10% and the Kospi rose 0.42% in Seoul added 0.2%, while the Shanghai Composite index of 0.36% lost 0.42% as the city entered the second day of a lockdown to combat a COVID-19 outbreak. Also, Jakarta Composite slipped marginally.

On the commodity front, oil prices remain lower amid the backdrop of Russia’s invasion of Ukraine. The United Arab Emirates energy minister doubled down Monday on an oil alliance with Russia, saying that nation, with its 10 million barrels of oil a day, is an important member of the global OPEC+ energy alliance, as per media reports.

Further, European stocks rose today with the pan-European Stoxx 600 climbing 0.8%. Shares of travel and leisure added over 1.5% to lead gains as all sectors and major bourses entered positive territory.

The Bank of England publishes its latest Quarterly Bulletin Tuesday. There are no major earnings.