Asian Shares close in the green zone as the U.S. Dollar stabilizes

Asian Stocks went higher early in the session as the dollar took back losses from the previous week.

Both Japan’s Nikkei 225 and South Korea’s Kospi indexes were found in better positions climbing by 1.25 percent and 0.99 percent respectively as the geopolitical tensions in the Korean Peninsula simmered down over the weekend.

On the other side of the ocean, in Wall Street, the S&P/ASX 200 rose by 0.48 percent, its information technology and health care sub-indexes leading the gains.

The dollar index finished the week at 91.325, a bounce back from its losses from Hurricanes Harvey and Irma. The strengthening dollar gave Asian shares the boost they needed and enabled them to close in the green territory.

Saudi spoke about the extension of oil supply cuts pushing the commodity’s prices higher

Oil prices were up on Monday’s early trade after the Saudi Oil minister discussed the possible extension the oil supply cuts beyond March 2018 with his Venezuelan and Kazakh counterparts.

In addition, Hurricane Irma has weakened to a category 2 Typhoon with a maximum sustained winds of 110 miles per hour. This improvement in weather condition eased concerned in the energy market and prevented price declines

U.S. crude for October delivery was up by 23 cents, or 0.4 percent, closing at $47.77.  Brent Crude benchmark for November went also higher by 23 cents, a 0.4 percent, and was traded at $54.01 per barrel.

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