Source: Dubai – Arabic.net
By 5:00 GMT, the Japanese Nikkei rose 0.52% to 19801.98 points, while the broader Topix index rose 1.14% to 1404.85 points. This rise came after a drop in the two indicators, which exceeded 1% in the beginning of trading on Tuesday.
In China, the Hang Seng index rose by 1.81% to 25,494.68 points, and the CSI 300 index rose 1.03% to 4,038.26 points.
This came, after Monday’s 25% drop in oil, amid panic-led sales and sharp losses of major US equity indices as fears of a global recession worsened in light of the rapid spread of the Corona virus.
Brent crude futures fell $ 10.91, or 24.1%, to settle the settlement price at $ 34.36 a barrel. The contract fell as much as 31% earlier in the day to $ 31.02, its lowest since February 12, 2016.
And US West Texas Intermediate crude fell $ 10.15, or 24.6%, to close at $ 31.13 a barrel. Crude earlier fell 33% to $ 27.34, the lowest level since February 12, 2016.
Today saw the biggest single-session decline in the percentage of both benchmarks since January 17, 1991, when prices fell by a third at the start of the Gulf War.
American stocks fell sharply yesterday, and the Dow Jones Industrial Average fell 2013.45 points, equivalent to 7.78% to 23851.33 points, and the Standard & Poor’s 500 Index fell 225.81 points, or 7.60% to record 2746.56 points, and the Nasdaq Composite Index fell 624.94 points, or 7.29% to 7950.68 Point.
European shares closed at their lowest levels in eight months yesterday, and the European Stoxx 600 index closed 7.4% lower, in its worst days since the financial crisis in 2008 and 2009.