Oil Halts Two-Day Slide After U.S. Rig Count Resumes Decline

Oil rose for the first time in three sessions after the number of active rigs fell in the U.S., potentially easing a supply glut. Futures advanced as much as 1.1 percent in New York, paring a 4.8 percent loss in the previous two sessions. Rigs targeting oil in the U.S. fell by 15 to 372, according to Baker Hughes Inc. More than 150 have been parked since the start of the year. U.S. data last week showed inventories rose by more than...

Dollar Index on Track to Rise for 6th Straight Day

The dollar strengthened against its main rivals in light trading as most markets in Europe and the U.S. were closed in observance of the Good Friday holiday. The greenback recently traded at ¥113.08, compared with ¥112.79 late Thursday in New York. The buck added to its gains after a third estimate of U.S. fourth quarter gross domestic product was revised to show 1.4% growth, up from 1% in a previous reading. The ICE U.S. dollar...

Japan Stocks Rise as Yen Weakens for Seventh Day After U.S. GDP

Japanese stocks rose, boosted by exporters, as the yen fell for a seventh day after data showed the U.S. economy grew at a faster pace than previously estimated. The Topix index advanced 0.8 percent to 1,376.64 at 9:02 a.m. in Tokyo, extending last week’s 1.6 percent gain, with all 33 industry groups climbing. The Nikkei 225 Stock Average added 0.8 percent to 17,140.68. The U.S. economy expanded 1.4 percent in the fourth quarter compared...

China Stocks Cap Second Weekly Gain as Consumer Staples Rally

China’s stocks capped a second week of gains as consumer-staples producers rallied on improving earnings prospects, while property developers halted a three-day slide. The Shanghai Composite Index added 0.8 percent this week. Kweichow Moutai Co. rose to a nine-month high after China International Capital Corp. said the liquor maker’s earnings may beat consensus estimates this year. Shanghai’s move to tighten criteria for non-local...

Nikkei rises on weaker yen, buyers seek dividends

Japanese stocks rose on Friday as a weaker yen raised sentiment, while investors bought stocks with high dividend yields such as life insurers before companies go ex-dividend next week. The Nikkei share average rose 0.7 percent to 17,002.75. It gained 1.7 percent for the week. The broader Topix rose 0.8 percent to 1,366.05 and the JPX-Nikkei Index 400 climbed 1.0 percent to 12,338.78. Source: reuter...