Home Markets Asia shares hesitant as oil hits 3-year highs

Asia shares hesitant as oil hits 3-year highs

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A man watches an electric board showing Nikkei index outside a brokerage at a business district in Tokyo, Japan, June 21, 2021. REUTERS/Kim Kyung-Hoon

  • Asian stock markets: https://tmsnrt.rs/2zpUAr4
  • Oil climbs on tight supply, strong demand
  • Markets hope Beijing will contain Evergrande fallout
  • US debt ceiling deadline nears, spending bill to get vote
  • Bonds pressured by hawkish central banks, inflation

SYDNEY, Sept 27 (Reuters) – Asian shares got off to a cautious start on Monday as a jump in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks.

Oil pushed past its July peaks as global output disruptions forced energy companies to pull large amounts of crude out of inventories, while a shortage of natural gas in Europe pushed costs up across the continent.

Brent added another 62 cents on Monday to $78.71 a barrel, while U.S. crude rose 71 cents to $74.69.

“We forecast that this rally…

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