Asian Stocks Rise As Oil Lifts US Stocks, Japanese Yen Pauses
Asian shares climbed Thursday morning as the Japanese yen paused, and after oil rose Wednesday, lifting U.S. stocks.
The Nikkei 225 rose 0.5 percent as the yen held at around 113 to the dollar following a big gain Wednesday. A strengthening yen — it was as weak as 121 to the dollar in January — makes the country’s export-oriented companies less competitive.
The ASX 200 in energy- and commodity-dependent Australia rose 1 percent as oil gained and the country’s exports increased 1 percent in January, after a 5 percent decline in December.