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Asian stocks briefly hit two-year highs as outlook darkens

Reuters  |  HONG KONG 

By Saikat ChatterjeeHONG KONG (Reuters) - Asian stocks briefly climbed to a fresh-two year high on Tuesday on the back of an overnight rise in Wall Street, while oil extended gains after major producers Saudi Arabia and Russia said supply cuts needed to continue into 2018.But investors are growing increasingly wary of the broader market as valuations look stretched and with the latest rally taking place in thin volumes and led by just a few sectors."We are approaching a short-term resistance as the breadth of this rise is very unhealthy and the market momentum looks tired," said Alex Wong, a ...

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First Published: Tue, May 16 2017. 09:21 IST