Asian markets mixed following 2% jump in oil prices; dollar softer

Asian markets were mixed in Tuesday trade, following the bounce in oil prices after the energy ministers of Russia and Saudi Arabia announced output cuts should be extended till March 2018 and as investors largely shrugged off US political news on President Donald Trump.

US crude gained 0.55 percent to trade at USD 49.12 a barrel while Brent crude added 0.44 percent to trade at USD 52.05.

The Nikkei 225 gained 0.52 percent and traded at its highest levels since December 2015. In an exclusive interview with CNBC, Japanese Prime Minister Shinzo Abe said Monday that his country would continue pushing for a trans-Pacific trade deal, but he hoped the US would rejoin the pact.

The Kospi added 0.3 percent. Australia's S&P/ASX 200 rose 0.38 percent, due largely to gains in its energy sub-index, which was up 0.9 percent.

Meanwhile, the Aussie strengthened against the dollar to trade at USD 0.7432. The Aussie had touched a near four-month low last week due to weaker commodity prices. The New Zealand dollar also climbed against the dollar, last trading at USD 0.6906.

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