Asian stocks today: Kospi jumps 6%, Nikkei up 1,600 points; markets rally as oil prices relax

Asian stocks inched higher on Tuesday as oil prices relaxed, coming down to around $90 per barrel from nearly $120. South Korea’s Kospi recovered from its heavy losses, surging more than 6%, while Tokyo’s Nikkei 225 also gained over 3% before easing slightly. The rally came as West Texas Intermediate (WTI) crude fell 6.54% to $88.57 a barrel, and Brent crude dropped 6.78% to $92.25. Prices had spiked on Monday, with WTI hitting $119.48 and Brent reaching $119.50 before reversing sharply. As of 8:09 am IST, Japan’s Nikkei gained a whopping 1,648 points or 3.1% to trade at 54,376 while…