Asia gains as Wall Street extends record run, dollar slips
TOKYO Asian stocks rose on Wednesday, joining a record-setting session for global markets as investors cheered upbeat factory activity in Europe and solid earnings on Wall Street.
MUMBAI BNP Paribas downgraded Oil and Natural Gas Corp Ltd(ONGC.NS) to "hold" from "buy", saying the recent rally in share prices already factored in the prospect of an increase in diesel prices.
India last month allowed state fuel retailers to gradually raise the price of diesel.
BNP Paribas said it preferred Bharat Petroleum Corp Ltd (BPCL.NS) as a play on potential diesel price hikes.
(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)
TOKYO Oil prices held near multi-week highs on Wednesday after OPEC signalled optimism over its deal with other producers to curb output to clear a glut that has weighed on markets since 2014.
Gold slipped on Wednesday as the dollar firmed, with investors looking to minutes from the U.S. Federal Reserve's latest meeting for clues on the timing of interest rate hikes.