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Daily Scan: Asia ends on a high, oil prices boost global stocks

By NexChange
Capital Markets

Updated throughout the day

October 7

Good Evening. Asia finished on a high today as climbing oil prices bolstered energy stocks. Hong Kong's Hang Seng Index  got a 2.3% boost after China revealed that foreign-exchange reserves fell at a slower pace in September. Japan's Nikkei Stock Average meanwhile held out, gaining 0.8%, even after stocks struggled earlier in the day following the Bank of Japan's decision to keep its policy unchanged. There are still hopes that easing measures will be brought in at the end of the month.

European markets have also been encouraged by rising oil prices, the Stoxx Europe 600 rose 0.3% in early trade while energy shares soared 1.5.%. The brent crude was up nearly 1% to $52.95 a barrel, on expected production cuts in the US and global markets.

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