Asian stocks open mixed on Monday, as oil prices rallied on supply outages in Canada, media reports said. Australia’s S&P ASX 200 index was 0.14 percent higher while Japan’s Nikkei 225 opened 0.99 percent higher. In Korean, South Korea’s Kospi index was down 0.1 percent on its first day of trade after being shuttered on Thursday and Friday for public holidays. Beijing released trade data on Sunday that showed exports contracted 1.8 percent and imports plunged 10.9 percent. China’s markets are trading almost flat. (May 09, 2016 0700a.m)
In Oli – Oil prices surged more than 2 percent at the start of Asia’s Monday session, as wildfires in Canada shut half of the country’s vast oil sands capacity over the weekend, Reuters news reported. US Crude futures were up 2.75 percent to USD45.88 a barrel, after its open at USD45, while Brent rose 2.23 percent to USD46.38, after opening at USD45.75. (May 09, 2016 0700a.m)
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