Japan stocks jump more than 2%; oil prices drop as OPEC and its allies delay meeting [CNBC]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
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Source: CNBC
Stocks in Asia Pacific jumped in morning trading as a scheduled meeting between the Organization of the Petroleum Exporting Countries and its allies, initially set to take place Monday, was delayed. Over in Japan, the Nikkei 225 rose 2.54% as shares of index heavyweights Fast Retailing and Softbank Group gained almost 3% each while the Topix index added 2.06%. South Korea's Kospi also advanced 2.21% in morning trade, while the Kosdaq index rose 2.18%. Meanwhile, shares in Australia rose, with the S&P/ASX 200 gaining 2.28%. Overall, the MSCI Asia ex-Japan index traded 0.63% higher. Markets in China are closed on Monday for a holiday. Investor focus on Monday will likely be on oil prices. A scheduled meeting between OPEC and its allies — collectively referred to as OPEC+ — was pushed back, raising fears that a production cut might face challenges. Oil prices fell in the morning of Asian trading hours, with international benchmark Brent crude futures down 4.43% to $32.60 per barrel. U.S.
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