Asia Markets: Asian markets rise, driven by oil-company gains

Asian stock markets gained Tuesday, partly reversing a broad selloff to start the week and largely shaking off modest losses on Wall Street.

Japan’s Nikkei NIK, +1.25% was up 1.2%, led by SoftBank Group and energy and steel stocks, amid continuing concerns about U.S. trade issues. Of 33 Topix subindexes, 17 sectors were higher. SoftBank 9984, +3.62% was up 3.6% following a 7.3% loss Monday due to concerns about the viability of its technology investment fund, partly financed by Saudi Arabia. SoftBank’s gains accounted for almost half of the indexes gains Tuesday.

Also in Tokyo, oil explorer Inpex 1605, +3.84% was up 3.8% and oil distributor Idemitsu Kosan 5019, -3.20% fell 3.2% after crude oil CLZ8, +0.13% gains overnight due to Saudi supply concerns.

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