Asia markets rally as oil prices bounce, global markets ignore Trump's FBI move

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Hong Kong - Asian markets rose Thursday with energy firms providing strong support after a surge in oil prices, while the dollar held gains against the yen as a top Federal Reserve official reinforced expectations for further interest rate hikes.

Both main crude contracts soared almost three% Wednesday after data showed a drop in US inventories almost three times more than forecast, fanning hopes of a jump in demand as the American holiday driving season kicks off.

Traders have also been buoyed by hopes that OPEC and Russia's much-vaunted output cuts that started in January appear to be gaining traction, with the key producers also likely to extend the agreement past its end-June deadline.

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Rand - Dollar
14.29
+0.0%
Rand - Pound
19.84
-0.5%
Rand - Euro
17.01
-0.4%
Rand - Aus dollar
10.73
-0.3%
Rand - Yen
0.13
+0.1%
Gold
1,775.74
+0.6%
Silver
25.91
+0.4%
Palladium
2,511.00
+1.8%
Platinum
1,036.50
-0.2%
Brent Crude
73.51
+0.6%
Resource 10
61,324
+0.6%
Top 40
59,489
-0.0%
All Share
65,559
-0.1%
Industrial 25
88,072
+0.1%
Financial 15
12,846
-1.2%
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