Asian stocks advance in commodities-inspired rally

SourceZawya
SectorFinancial Markets
CountryMiddle east

Buoyed by the rally in commodities, the Australian S&P/ASX 200 index to rose nearly 0.9%. Singapore's Straits Times index put on 0.6% and Taiwan was up 0.2%. Hong Kong .HSI advanced 1%, while the tech-laden South Korea's Kospi lost 0.3%.Japanese markets were closed for a public holiday."We are in unprecedented times, but the likelihood is that low interest rates will persist long after the world economy has shaken off the pandemic," Keith Wade, chief strategist at Schroders said in a note."For financial markets, such an outlook will intensify the search for yield and no doubt create volatility and bubbles as investors chase returns in "the zero" environment, Wade added.On Wall Street, high-growth stocks such as Apple, Microsoft and Tesla weighed on the Nasdaq Composite, which shed 2.5% on Monday.Commodity prices again strengthened on Tuesday. Oil prices rose on a tight global supply outlook after U.S.

production was hammered by frigid weather and an approaching meeting of top crude producers is...read more...