(MENAFN- Saudi Press Agency) Most Asian stocks jumped Thursday as oil prices bounced back and weak U.S. economic data fueled investor hopes that the Fed would slow the pace of rate hikes this year. Japanese shares fell as the yen rose against the dollar, AP reported. Japan's Nikkei 225 lost 0.7 percent to 17,069.96 after the yen strengthened sharply against the dollar, hurting share prices of the country's export manufacturers. South Korea's Kospi added 1.1 percent to 1,911.88 and Hong Kong's Hang Seng advanced 1.7 percent to 19,307.61. The Shanghai Composite Index in mainland China climbed 1.4 percent to 2,777.79. Australia's S&P/ASX 200 rose 1.8 percent to 4,963.30. Markets in Southeast Asia rose. Oil futures extended gains on the weaker greenback, which makes oil cheaper for international investors buying with other currencies. Benchmark U.S. crude added 36 cents, or 1.1 percent, to $32.64 a barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $2.40, or 8 percent, to close at $32.28 a barrel on Wednesday in New York. Brent crude, a benchmark for international oil prices, rose 33 cents to $35.37. The dollar edged up to 118.05 yen from 117.90 yen after losing about 1.7 percent overnight. The euro eased to $1.1083 from a three-month high of 1.1118 in the previous day's trading.
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