Asia-Pacific markets pared gains Tuesday as oil prices rebounded, underscoring lingering uncertainty over the Middle East conflict.
In Japan, the Nikkei 225 recovered 736.39 points, or 1.4%, to 52,252.28, after Japan’s headline inflation rate eased for a fourth straight month in February as the economy cooled on stabilizing food prices and fuel subsidies.
The consumer price index fell to 1.3% last month, according to data released by Japan’s Statistics Bureau Tuesday, marking the lowest since March 2022 and below the central bank’s 2% target, down from 1.5% in January.
In Hong Kong, the Hang Seng hiked 681.24 points, or 2.8%, to 25,063.71.
Brent crude futures for May rose almost 3% to $102.91 U.S. per barrel while the West Texas Intermediate futures jumped 3.7% to $91.4 per barrel. The uptick follows a sharp selloff on Monday, when Brent crude fell nearly 11% to around $99 per barrel after topping $112 on Friday.
In other markets
In Shanghai, the CSI 300 pulled ahead 56.72 points, or 1.3%, to 4,474.72.
In Korea, the Kospi index gained 148.17 points, or 2.7%, to 5,553.92.
In Singapore, the Straits Times Index restocked 21.13 points, or 0.4%, to 4,862.43
In Taiwan, the Taiex index lost 110.26 points, or 0.3%, to 32,612.24.
In Australia, the ASX eked up 13.44 points, or 0.2%, to 8,379.35.
In New Zealand, the NZX 50 dropped 197.98 points, or 1.5%, to 12,701.75
