Investing.com - Asian shares gained on Tuesday with Tokyo soaring on a weaker yen.
The Nikkei 225 surged 3.42%, while the S&P/ASX 200 rose 1.08%
The Shanghai Composite edged up 0.05%, while the Hong Kong Hang Seng index was last up 0.80%.
Also in China, the yuan rose against the dollar on Tuesday after the People's Bank of China set a stronger fixing for a second consecutive session at 6.4700 compared with 6.4787, or 0.13% stronger.
Overnight, U.S. stocks rose sharply on Monday, as the Dow Jones Industrial Average eclipsed 18,000 for the first time since late-July, following an unexpected recovery in oil prices and strong upward moves by Walt Disney Company (NYSE:NYSE:DIS) and Hasbro Inc (NASDAQ:NASDAQ:HAS).
The major indices quickly erased early losses in Monday's session after crude futures pared 5% losses from overnight, Asian trading. It came after a summit of 18 major oil producers in Qatar ended abruptly when officials from Saudi Arabia demanded that Iran join the group in capping output at January levels. With the collapse in high-level negotiations, analysts have expressed concerns that crude prices will remain low until OPEC meets next in early-June.
The Dow added 106.70 or 0.60% to 18,004.16, while the S&P 500 Composite index gained 13.61 or 0.65% to 2,094.34, as both indices soared to fresh 2016-yearly highs. On the S&P 500, all 10 sectors closed in the green as stocks in the Energy, Health Care and Financials industries led. Following the surprising rally in oil prices, energy stocks soared more than 1.3% on the day. The NASDAQ Composite index, meanwhile, jumped 21.80 or 0.44% to 4,960.02, following gains among media and pharmaceutical stocks.