Shares in Japan set to rise following bounce on Wall Street; oil prices drop more than 10%

Shares in Japan set to rise following bounce on Wall Street; oil prices drop more than 10%

SINGAPORE — Shares in Asia-Pacific rose in Thursday morning trade, following an overnight bounce on Wall Street after . The in Japan jumped 3.03% while the Topix index climbed 3.13%. South Korea's also gained 2.16%. In Australia, the climbed 1.08%. Shares of major miner , however, plunged more than 6%. The firm told CNBC on Thursday that it is "in the process of terminating all commercial relationships it has with any Russian business." MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.63% higher. Overnight stateside, the S&P 500 gained 2.57% to 4,277.88. The Dow Jones Industrial Average climbed 653.61 points, or 2%, to 33,286.25. The tech-heavy Nasdaq Composite jumped 3.59% to 13,255.55. Those gains on Wall Street came as oil prices on Wednesday sharply declined, with both international benchmark Brent crude and U.S. crude futures tumbling more than 10%. Oil prices had been on a wild ride in recent days, briefly rising to their , as Russia's ongoing invasion of Ukraine has sparked fears of supply disruptions in the commodities space. Currencies The , which tracks the greenback against a basket of its peers, was at 97.968 after a recent decline from around 99. The traded at 115.95 per