The yuan posted its biggest advance in more than a decade on Monday in Shanghai after central bank Governor Zhou Xiaochuan voiced his support for the currency.

Oil Prices Rise Sharply on News of Saudi-Russia Production Meeting
Investors speculate about possible production cut or freeze Updated Feb. 15, 2016 10:50 p.m. ET

Updated Feb. 15, 2016 10:50 p.m. ET
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Crude-oil prices rose in early Asia trade Tuesday on news that the Saudi Arabian and Russian energy ministers are set to meet in Qatar later today to discuss production, stoking speculation of a possible production cut or freeze.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in March recently traded at $30.82 a barrel, up $1.38 in the Globex electronic session. April Brent crude on London’s ICE Futures exchange rose $1.20 to $34.59 a barrel

China’s stocks rallied the most in three months, led by technology and industrial companies, after data showed the nation’s banks doled out a record amount of loans in January.

The Shanghai Composite Index climbed 3.3 percent to 2,836.57 at the close, paring its decline this year to 20 percent. PetroChina Co. advanced 2.6 percent. New yuan lending jumped to 2.51 trillion yuan ($390 billion) last month, beating analyst estimates. Hong Kong’s Hang Seng China Enterprises Index extended Monday’s advance. The yuan weakened after having its biggest gain in more than a decade.