Asian shares advance despite losses on Wall Street

Shares advanced in Asia on Tuesday, the Associated Press reported.

Hong Kong advanced 2.5% and other regional benchmarks were moderately higher. Oil prices slipped.

Hong Kong’s Hang Seng gained 500 points to 20,450.95 while the Nikkei 225 in Tokyo climbed 0.4% to 26,659.75. In Seoul, the Kospi rose 0.8% to 2,618.37.

Australia’s S&P/ASX 200 added 0.3% to 7,115.40 while the Shanghai Composite index was 0.4% higher, at 3,085.80.

On Monday the S&P 500 fell 0.4% to 4,008.01. It’s coming off of a six-week losing streak. The Dow Jones Industrial Average eked out a gain, rising 0.1% to 32,223.42.

The tech-heavy Nasdaq fell 1.2% to 11,662.79.

U.S. crude oil prices rose 3.4% Monday and are up more than 50% for the year. Natural gas prices rose 3.8% and have more than doubled in 2022.

On Tuesday, U.S. benchmark crude oil shed 30 cents to $113.90 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the pricing basis for international trading, lost 20 cents to $114.04 per barrel.

In currency trading, the dollar rose to 129.34 Japanese yen from 129.11 yen late Monday. The euro was at $1.0448, up from $1.0436.