Asian Shares Rise As Energy Surges

Asian shares headed higher on Thursday as rising oil prices boosted energy and mining shares in the region.
The price of Brent crude oil hit 2015 highs above $63 (£42) a barrel, rallying on government data that showed oil inventories in the US rose less than expected last week.
Tokyo’s Nikkei 225 closed up 0.1% at 19,885.77, reversing earlier losses.
Toyota’s shares were up 0.4% after the firm said it would end a three-year, self-imposed break from expansion.
The carmaker said it would build a new $1bn plant in Mexico and add a new production line to a plant in China.

Sharp’s shares surged 4.5% after sources said it would meet with banks on Thursday for a $1.7bn rescue deal for the loss-making electronics firm.
In Greater China, Hong Kong’s Hang Seng index closed up 0.4% at 27,739.71, while the Shanghai Composite was up 2.7% to 4,194.82 – hitting another seven-year high.
Shares on the mainland posted their biggest fall in a month on Wednesday after growth data showed China’s economy had slowed further in the three months to March this year.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza