(NEW YORK) -- Following a rocky showing last week, global markets are making some headway Tuesday after reports on Chinese and German manufacturing activity proved better than expected, calming fears of a sharp slowdown in global economic growth.
Japan's Nikkei index rose 1.22 percent, Hong Kong’s Hang Seng climbed 1.99 percent, China’s Shanghai Composite went up 1.52 percent, and Australia’s S&P/ASX 200 added 2.23 percent.
South Korea’s Kospi had the biggest showing in Asian trading, shooting up 3.86 percent, followed by Taiwan’s Taiex increase of 3.25 percent.
European markets are also trading higher ahead of Tuesday's closing.
Over in the U.S., stock futures are up Tuesday after slight gains on Wall Street the day before. The Dow Jones Industrial Average gained 37 points on Monday, while the Nasdaq added four points and the S&P 500 fell even.
Meanwhile, oil prices rose to nearly $86 a barrel Tuesday as Libyan rebels and government forces continue to fight for control, hampering oil production, in turn.
Gold prices, on the other hand, are down over $5 an ounce after a record-setting run-up. The price of gold had previously shot up to almost $1,900 an ounce.
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