Asia Markets: Oil gains in Asian markets can’t lift other sectors

Oil’s push into bull territory boosted energy stocks across Asia early on Friday, but the gains failed to lift other sectors and kept most of the region’s share markets in the red.

The Nikkei Stock Average NIK, +0.36% was last down 0.1%, after rising as much as 0.8% earlier in the session amid a weaker yen and strong energy prices.

“This morning we see that the Japanese yen is weakening a little bit against the U.S. dollar — that [helped] the Nikkei open higher,” said Margaret Yang, a market analyst at CMC Markets.

Still, uncertainty over the U.S. interest-rate outlook still weighs, analysts say, ahead of the Federal Reserve’s Jackson Hole symposium scheduled for next Friday.

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