Thursday, 24 December 2015

Asian Market Update : Epic Research Malaysia

Energy firms helped fuel another broad rally across Asian stocks Thursday after a surge in oil prices sent US and European markets flying ahead of the Christmas break.

A jump in US crude inventories raised hopes that a sell-off in the commodity, which has seen the Brent contract plumb 11-year lows, may be nearing an end.

Adding to the upbeat tone on trading floors was another round of economic data from Washington reinforcing the view that the world's number one economy is in rude health.

Thursday's gains were underpinned by a third straight gain in oil after the US Department of Energy said stockpiles tumbled in the week ending December 18, while imports fell about 13 per cent week on week.

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