Asian stocks climb as sliding oil prices buoy sentiment

Asian markets advanced on Tuesday as lower oil prices improved investor mood, Business Recorder reported. Brent fell 1% to $91.56 a barrel, its lowest levels since early September, after US President Donald Trump said he would pause plans for new strikes on Iran. Shares rose as markets weighed the prospect of talks against continuing uncertainty over a lasting peace agreement.

The regional MSCI index gained 1.5%, while South Korea’s KOSPI climbed more than 5% and Japan’s Nikkei added about 3%. US stocks had also rallied on Monday, with the S&P 500 up 2.35% and the Nasdaq higher by 2.7%. Investors were awaiting US October inflation figures, with economists expecting headline prices to rise 0.3% and core prices 0.2%; markets were also watching the Federal Reserve rate outlook and upcoming technology earnings.