Asian stocks inch up but China falters; oil at 2019 highs

HONG KONG/TOKYO: Stocks in Asia rose marginally on Tuesday as many markets reopened after the long Easter break, while oil jumped to its highest this year as the United States tightened sanctions on Iran.

But Stefan Hofer, chief investment strategist at LGT Bank Asia in Hong Kong, said a market adjustment was expected. China's blue-chip stocks have surged over 30 percent so far this year on expectations of more stimulus and hopes that Beijing and Washington will soon reach a deal to end their bruising trade war.

Washington said it would eliminate in May all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions. The world's largest economy reported worse-than-expected fall in home sales on Monday, as rising demand continued to be frustrated by a lack of properties.

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