Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Top Stories > Asian shares hit all-time highs, oil rises on Middle East tensions

Asian shares hit all-time highs, oil rises on Middle East tensions

Published by linker 5

Posted on February 15, 2021

3 min read

Last updated: January 21, 2026

Electronic board showing stock indexes amid global market optimism - Global Banking & Finance Review — An electronic board displays rising stock indexes, reflecting global market optimism fueled by vaccine rollouts and fiscal stimulus. This image relates to the article's focus on stock performance and oil price increases due to Middle East tensions.

By Swati Pandey

SYDNEY (Reuters) – Asian shares advanced to record highs on Monday as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington, while oil prices rose on heightened tensions in the Middle East.

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.4% to 736.4.

Japan’s Nikkei climbed 1.1%, despite data showing the country’s recovery from its worst postwar recession slowed in the fourth quarter.

Australia’s benchmark index added 0.9% while E-mini futures for the S&P 500 were up 0.3% in early Asian trading.

China and Hong Kong markets are shut for the Lunar New Year holiday. U.S. stock markets will be closed on Monday for the Presidents Day holiday.

The highlight of the week will probably be minutes of the U.S. Federal Reserve’s January meeting, where policymakers decided to leave rates unchanged.

Data on inflation is due from the UK, Canada and Japan while Friday will see major economies including the United States release the preliminary February purchasing managers’ indices (PMI).

While economists expect inflation to stay benign for some while yet, the so-called “reflation trade” has gathered steam in recent days largely led by coronavirus vaccines and hopes of massive fiscal spending under U.S. President Joe Biden.

Biden pushed for the first major legislative achievement of his term, turning to a bipartisan group of local officials for help on his $1.9 trillion coronavirus relief plan.

“In our view, as long as the rise (in inflation) is gradual, equity markets can continue to do well. However, unruly moves would certainly hurt investor sentiment,” said Esty Dwek, head of global market strategy, Natixis Investment Managers Solutions.

“Credit spreads have tightened sharply already, but they still have room to absorb some higher yields, making us more comfortable with credit risk than interest rate risk,” Dwek added.

“Commodities would be beneficiaries of an inflationary cycle, but they can still continue to recover without high core inflation as economies reopen and demand picks up.”

Oil prices climbed to the highest since January 2020 on hopes U.S. stimulus will boost the economy and fuel demand.

Prices were also buoyant after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iran-aligned Houthi group, raising fears of fresh Middle East tensions. [O/R]

Brent crude rose $1 to $63.43 a barrel. U.S. crude oil gained $1.2 to $60.7.

On Friday, the S&P 500 and Nasdaq set record closing highs. The Dow finished 0.1% higher at 31,458.4 points, the S&P 500 gained 0.5% to 3,934.83 and the Nasdaq added 0.5% to 14,095.47. [.N]

Action in currencies was muted.

The dollar was slightly higher against the Japanese yen at 105.01 while the euro rose to $1.2125 and the British pound was up 0.3% at $1.3886. The risk sensitive Australian and New Zealand dollars climbed 0.1% each.

That left the dollar index steady at 90.426.

Bitcoin was barely changed in early Asian trading at $47,994, below a record high of $49,714.66. It posted gains of roughly 20% in a milestone week marked by the endorsement of major firms such as Elon Musk’s Tesla.

(Reporting by Swati Pandey in Sydney; Editing by Kim Coghill and Jacqueline Wong)