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Asian equities extend rise amid US shutdown resolution hope while oil lags
Asian equities climbed over 1% on 11 November on US shutdown progress, though oil prices fell amid demand concerns and weighed on sentiment.
Asian stock markets gained for a second consecutive day on 11 November, supported by growing expectations that the US government shutdown may end soon. The MSCI Asia-Pacific index excluding Japan rose 1.3 % while Japan’s Nikkei gained 1.33 %. However, oil prices remained under pressure due to demand concerns, with Brent crude down 0.7 % to US$81.2 per barrel.
Analysts say the equity rally reflects renewed risk-appetite but caution that energy and export constraints in the region may cap upside in absence of new catalysts.