Asian Equities Recover after U.S. Lead

Asian stocks staged a modest recovery on Wednesday, encouraged by a positive finish on Wall Street overnight and stabilization in commodity prices.

U.S. stocks broke a five-day losing streak on Tuesday; the S&P 500 led gains with a 1.2 percent bounce, while the blue-chip Dow and the Nasdaq Composite closed up 1.1 and 1 percent, respectively.  Spot gold edged up slightly at $1,095.5 in early Asian trade, but remained near Friday’s five-and-a-half-year low of $1,077.

Meanwhile, oil moved away from near six-month lows on Tuesday, as bets for a drop in U.S. crude stockpiles offset worries about a global supply glut and an equity market meltdown in China. U.S. crude reversed earlier losses to settle up 59 cents at $47.98 a barrel.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.