Futures pointed to a higher open for Asian markets on Tuesday, after a reversal in oil prices sent U.S. stocks up.
Australian SPI futures were up 1 percent at 5,182, compared to the ASX 200's last close at 5,137.05.
Nikkei futures in Chicago were up 0.06 percent at 16,700, while Osaka futures added 2.14 percent at 16,670. The Japanese benchmark index closed at 16,275.95.
On Sunday, the world's largest oil exporting countries failed to reach an agreement in Doha, Qatar, to freeze output at January levels in order to tackle the global supply glut.
The failure to do a deal initially sent oil prices tumbling over 5 percent. The reversal came after reports that a workers' strike in Kuwait had hit the gulf country's daily oil output. Тhe strike cut the OPEC producer's crude output by more than 60 percent, from about 3 million barrels per day to about 1.1 million.
Major U.S. indexes closed up, with the Dow Jones industrial average adding 0.6 percent, the S&P 500 gaining 0.65 percent and the Nasdaq composite up by 0.44 percent.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.