Asian shares extend global rally – Reuters
- Date: 05-Jun-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Saudi Arabia
Asian shares extend global rally – Reuters
SYDNEY, June 5 (Reuters) - Most Asian stock markets extended a global rally on Monday on optimism the Federal Reserve would pause its rate hikes this month after a mixed U.S. jobs report, while oil jumped after Saudi Arabia pledged big output cuts.
Brent oil rose 1% to $76.89 a barrel, giving up some of its earlier gains to as high as $78.73, while U.S. crude climbed 1.2% to $72.61 a barrel, after hitting a session high of $75.06.
Oil prices have recently come under pressure amid heightened concerns about China's slowing economic recovery.
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