Asia stocks edge up as oil recovery lifts energy firms

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HONG KONG: Asian markets crept up in early trade Wednesday with energy firms getting a shot in the arm from a rally in oil prices but worries about the global economy and the upcoming earnings season kept traders on edge. Tokyo was 0.3 percent up by lunch, having fallen for six straight sessions, losing more than eight percent. Among other markets, Hong Kong was up 0.1 percent, Sydney added 0.5 percent and Seoul gained 0.3 percent while Shanghai put on 0.1 percent. The dollar is wallowing at its lowest levels against the yen since October 2014 with expectations of a US interest rate hike this year fading, while the recent sell-off in equities has fuelled a flight to the Japanese unit, which is considered a safe bet.

AFP

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