Tokyo Stocks Rise On Wall St Gains, Higher Oil Prices

Tokyo stocks rise on Wall St gains, higher oil prices

TOKYO, (UrduPoint / Pakistan Point News - 19th Augst,2016) - Tokyo stocks climbed in early trade on Friday, tracking a positive lead from Wall Street and as a rally in oil prices lifted sentiment. US equities ended modestly higher on Thursday, a day after minutes from the Federal Reserve's July meeting suggested policymakers were not yet ready to go ahead with an interest rate hike next month.

Petroleum-linked shares got a boost after crude prices extended their rally Thursday following data showing a decline in US stockpiles, with Brent oil finishing above $50 a barrel for the first time in nearly two months. In Tokyo, the jump in oil prices also boosted energy-linked shares, with Inpex up more than three percent in early deals and refiner JX Holdings gaining more than two percent.