Asia Shares Spike

Asian shares surged on Tuesday, following a raft of encouraging news — U.S. stocks recovered overnight and the pound jumped as British Prime Minister Theresa May managed to secure last-minute support from the European Union for her Brexit deal before it goes to a crucial vote on Tuesday.

The Nikkei 225 average leaped 378.6 points, or 1.8%, to 21,503.69

The Japanese yen fetched 111.30 to the U.S. dollar Tuesday, strengthening from levels around 111.70 last week

In Hong Kong, the Hang Seng Index vaulted 417.57 points, or 1.5%, to 28,920.87

Oil stocks in Asia bounced strongly as crude prices continued to recover this week, lifted by comments from Saudi Energy Minister Khalid al-Falih who said that an end to supply cuts led by the Organization of the Petroleum Exporting Countries was unlikely before June.

In Australia, stocks found new strength, as oil stocks put in a strong showing in the afternoon after losses on Monday, with shares of Santos surging 2.8%, Oil Search giving up some gains to rise 0.5% and Woodside Petroleum rising 1.1%.

The Australian dollar traded at $0.7066 U.S.

The pound was up 0.5%, buying $1.3215 U.S. and taking its gains over two days to more than 1.5%, following the news on the Brexit deal.
Senior Minister David Lidington announced Monday that May had clinched "legally binding" changes to her Brexit deal in her bid to win last-minute support.


The CSI 300 index jumped 25.4 points, or 0.7%, to 3,755.35

Shares of China's Meituan Dianping, an online food delivery-to-ticketing firm, plunged more than 10% by the afternoon, following results posted a day earlier which showed that its fourth-quarter operating loss more than doubled.

In other markets

In Singapore, the Straits Times Index advanced 20.83 points, or 0.7%, to 3,212.25

Korea’s Kospi Index acquired 19.08 points, or 0.9%, to 2,157.18

In Taiwan, the Taiex Index galloped 93.05 points, or 0.9%, to 10,343.33

In New Zealand, the NZX 50 nicked higher 6.4 points, or 0.1%, to 9,397.25

In Australia, the ASX 200 lost 5.37 points, or 0.1%, to 6,174.82