Asian Stockmarkets higher

Asian Share markets are higher today, following good gains on Wall St, with commodity stocks up after base metal and crude oil prices surged overnight.

The Nikkei is up 1.1%, ASX200 +1.6%, HongKong up 2% and the Kospi up 0.8%. Dow futures are currently down 11 points.

Oil stocks were higher after crude futures surged to a six week high, on the back of growing optimism about the outlook for the world economy and a weakening US Dollar. In Sydney, Woodside Petroleum is up 1% and Santos is up 1.5%. RIO is up 5.7% and BHP up 3.5% on the back of renewed demand for metals, with copper breaking the $6000 per ton on Monday. Elsewhere, Nippon Steel is up 1.2% and Sumitomo Metal up 0.7%.

ANZ bank was also on the run in Sydney, up 2.8%, after announcing it will pay $550 mln for RBS’s Asian banking operations.

In Seoul shares were up in heavy trade. Samsung Electronics+1.5%, Hyundai+5% and Kia Motors up 3.9%.