Asia Shares Rise as Energy Stocks Jump While Japan Extends Rally
- Japan’s Nikkei 225 index closes at highest level of the year
- China’s factory gauge climbs to highest since July 2014
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Asian stocks rose as an OPEC deal to cut oil production sparked a rally in equities from China to Japan.
The MSCI Asia Pacific Index rose 0.6 percent to 136.54 as of 5:10 p.m. in Tokyo. The Nikkei 225 Stock Average increased 1.1 percent, extending gains to the highest level since Dec. 30. Cnooc Ltd. capped its best gain in more than seven months in Hong Kong after oil prices surged on the Organization of Petroleum Exporting Countries’ agreement to curb production for the first time in eight years. The Shanghai Composite Index climbed 0.7 percent after data showed China’s official factory gauge advanced to the highest since July 2014.