Shares in Asia were mixed on Tuesday as investors grappled with the recent spike in oil prices following an after the U.S. announced that its sanctions waivers on Iran oil will end by early May.
The Nikkei 225 regained 41.87 points, or 0.2%, 22,259.74, s shares of index heavyweight Softbank Group rose 0.3%.
Oil stocks also factored in, Japan’s Inpex rising 2.78% and Fuji Oil adding 1.15%, while South Korea’s SK Innovation advanced 1.84%.
The Japanese yen traded at 111.86 against the U.S. dollar after seeing an earlier low of 111.97.
The Hang Seng index in Hong Kong was fairly flat at 29,623.24, with Hong Kong-listed shares of China Construction Bank falling by more than 0.8%.
Korea’s Kospi enjoyed slight gains, with industry heavyweight Samsung Electronics slipping 0.3% after the company said it would delay the launch of its foldable smartphone.
In Australia, markets returned from a long weekend to exhibit gains, as almost all sectors advanced. The energy sub-index added 2.5% as shares of oil companies rose amid the recent surge in crude prices. Santos gained 3.1%, Woodside Petroleum advanced 2.6% and Beach Energy jumped 4.2%.
The Australian dollar changed hands at $0.7113 U.S. after touching an earlier high of $0.7139.
CHINA
The CSI 300 in China dropped 6.6 points, or 0.2%, to 4,019.01
Shares on the mainland also fell in Monday’s session following a South China Morning Post report that Beijing could refocus on structural reforms instead of offering stimulus measures after it claimed better-than-expected economic growth in the first quarter.
In other markets
In other markets
In Singapore, the Straits Times Index sank 4.23 points, or 0.1%, to 3,353.47
Korea’s Kospi Index gained 3.86 points, or 0.2%, to 2,220.51
The Taiex Index in Taiwan tacked on 37.97 points, or 0.4%, to 11,025.68
In New Zealand, the NZX 50 returned to trading with a gain of 45.22 points, or 0.5%, to 10,004.84
The ASX 200 also returned from holiday gaining 59.6 points, or 1%, to 6,319.42
