Oil prices and Asia-Pacific stocks climb to higher positions

2022 has brought stability and hope in the global stock market. Gone are those days when the world was struggling with pandemic, and today most of the industries and markets are operating at full strength. As the month of May is about to end, it was seen that the Japanese shares were leading the gains regionally. The investors in Asia are eagerly waiting for important major economic data release. The Nikkei 225 rose by about 2.12%, the Topix index jumped by 1.82% and the robot maker Fanuc made a gain of more than 4%. The Hong Kong’s Hang Seng index also rose by 1.87%. In mainland China, the Shanghai Composite made a gain of 0.3%, and the Shenzhen Component edged up by 0.727%.

Australia's S&P/ASX 200 rose by 1.29% and the Kospi in South Korea edged by 1.19%. It is important to note that MSCI’s broadest index of Asia-Pacific stocks outside Japan edged by 1.65%. The smart investors monitor the market movement, possible government precautionary measures and inflationary pressure before taking the final decisions

European stocks manage to close higher

With the retail shares leading the gain, the pan-European Stoxx 600 rose by 0.9% higher. The retail shares surged by 4.8%. The finance ministers and economic strategies are taking necessary measures to stabilize the economy. The traders are also concerned about the new fiscal stimulus measures that are being taken in the United Kingdom. If there is a discussion regarding individual share price movement, 12% growth was recorded by the British retail tech firm Ocado. Most of the global political leaders are trying to resolve the most crucial problem of the current time. They want to bring an end to the Russia-Ukraine war

The oil prices continue to touch high figures due to geo-political tension

Oil prices are not coming down, and they climbed to the highest figure of the two months. The traders are waiting to watch the move of the European Union. They are concerned whether or not an agreement regarding banning Russian oil will be taken. The Russian invasion of Ukraine has seriously disrupted the commodities supply, specifically the supply of oil and food products. The Brent crude futures made a gain of 0.4% or 46 cents. It was standing at $119.89 a barrel. The US West Texas Intermediate (WTI) crude futures made a gain of 0.5% or 60 cents. It was standing at $115.67 a barrel. The demand for oil will go up in the US driving season. The European nations are negotiating among each other to impose a ban on Russian crude oil. Most of the Western nations have slapped sanctions on Russia. Some countries are concerned about their oil supply because alternative suppliers are not available for them yet. The experts are saying that if further bans are slapped on Russia, it will only put more stress on the already tight crude market. The demand for diesel, jet fuel and gasoline is likely to reach the peak in the summer season.

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