Asian shares take heart from Wall Street rally

Asian stocks rose on Thursday as a sharp rebound on Wall Street eased fears of a protracted global market rout, while the dollar steadied as risk appetite returned. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.8 per cent. Chinese shares, the CSI300 index added 0.7 per cent and the Shanghai Composite Index was slightly higher, after the indexes had plunged more than 20 per cent over the past week. Tokyo's Nikkei ended up 1.1 per cent, adding to the previous day's 3.2-per cent gain. US crude futures bounced 2.2 per cent to $39.45 a barrel. Brent added 2.3 per cent to $44.11. Copper was up about 0.9 per cent at $4,979.50 tonne. Gold took back some lost ground after suffering its biggest fall in five weeks overnight as the dollar rebounded and US stocks rallied. Spot gold rose about 0.2 per cent to $1,127 an ounce, according to Reuters.
-Shuvo-