Asian shares were broadly positive at the close as rising energy prices and bond yields continued to weigh on sentiment as well as a weaker close on Wall Street.
Benchmarks rose in Tokyo, Seoul, Sydney, Hong Kong and Shanghai, with only Singapore lower. Investors are eyeing remarks this week from Federal Reserve Chair Jerome Powell and European Central Bank chief Christine Lagarde along with first quarter US GDP data.
Tokyo’s Nikkei 225 index gained 0.66%, while Australia’s S&P/ASX 200 climbed 0.86%, Hong Kong’s Hang Seng index gained 0.84% and the Shanghai Composite index was up 0.84%.
Oil prices extended gains after climbing on Monday amid reports that producers in the Middle East were at or near maximum capacity, with little leeway to boost production.
Benchmark Brent crude was up 1.4% to $111 after strong gains on Monday.