Asian stocks track Oil higher, Nikkei gains on weaker yen

The stocks on the Asian bourses extends gains for the second straight session on Tuesday, with the sentiment broadly supported by the overnight rally in oil prices, after Russia agreed to cooperate with the OPEC to reach an output cut deal in November. Hence, energy and resource stocks benefited the most and drove the region’s indices higher.

While the Japanese stocks re-opened on a positive note in response to yen’s relative weakness, as risk-on dominates markets and boosts the demand for risky assets at the expense of safe-havens.

Moreover, markets pricing-in a Clinton win, despite Trumps improved performance at the second election debate yesterday, also keep the sentiment buoyed somewhat.

Meanwhile, Japan’s Nikkei 225 trades marginally higher around 16,860, the Australian S&P/ASX 200 rises +0.22% to 5487. The Chinese equities extend gains, with the benchmark Shanghai Composite index up +0.30%, while CSI300 index rises +0.30%. Hong Kong markets decline -0.23% to trade around 23,790 levels.