Stocks extend bull run on hopes of quick economic recovery

Optimism about a rapid global recovery and low interest rates push Asian shares higher, extending their recent gains.

Asian shares advanced on Tuesday, putting world equities on course to extend their bull run for a 12th consecutive session as optimism about the global economic recovery and expectations of continuing low-interest rates drive investments into riskier assets. Oil prices soared to a 13-month high as a deep freeze due to a severe snow storm in the United States not only boosted power demand but also threatened oil production in Texas. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.45 percent while Japan’s Nikkei rose 0.4 percent to a 30-year high.