Asian stocks are set to rise on Tuesday amid renewed tech rallies and optimism that Washington will deliver a coronavirus aid package. It will help the global stock market to grow.
Ryan Felsman, a senior economist at COMSEC, said the resurgence of Kovid-1 res in Europe and the United States was partly encouraging tech rallies.
“Once again, we want to stockpile technology in a stay-at-home type … which will still be profitable and will lead to a more challenging financial environment,” Felsman said.
On Wall Street, the Nasdaq Composite <.IXIC> Held its biggest one-day rally on Monday, with a 2.56% increase. Dow Jones Industrial Average <. डीजेआय> 0.88% and S&P 500 <.एसपीएक्स> Increased by 1.64%.
The US dollar was at a three-week low and another safe-haven gold remained at a three-week high, dwindling due to riskier demand from investors. The U.S. bond market is closed Monday for Columbus Day.
MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> Closed up 0.11%.
The Australian S&P P / ASX 200 futures gained 1.05% in early trade. Hong Kong’s Hong Seng Index Futures <. एचएसआय> Increased by 0.11%.
E-mini futures for the S&P 500 rose 0.01%.
Dollar index <= यूएसडी> 0.07878% down, changing the euro to १ 1.1131 at.
Pan-European STOXX600 index <.स्टॉक्सएक्स> 0.72% and the gauge of MSCI’s world shares <.MIWD00000PUS> Increased by 0.01%.
The island urges the Trump administration to ask Congress to pass a less ambitious Cornavirus aid bill, despite signs that the talks in Washington have stalled again.
A U.S. Senate Republican said he would take with him what President Donald Trump wants from the Coronavirus Aid Act, a White House spokesman said Monday.
China’s focus on the Asian continent is expected to boost exports on Tuesday.
Sources familiar with the situation said Monday, noting Beijing’s tensions with Washington after the White House moved Taiwan forward with three sales of advanced weapons.
China, which considers Taiwan a Renegade province, is likely to be angered by the November 3 US election.
The yuan fell 0.8% on Monday as the central bank effectively cut the yuan’s depreciation rate, reducing foreign exchange forward reserve needs.
Investors are watching closely the global resurgence of the coronavirus case after British Prime Minister Boris Johnson on Monday announced a new mechanism to impose sanctions on parts of England. MPs will vote on the decision on Tuesday.
Gold rose 0.1% to 9 1,923.62 an ounce.
In the energy market, oil prices plummeted after a major upheaval at Libya’s largest oilfield, which affected the Norwegian strike and affected producers. American producers began to restore production after Hurricane Delta.
Brent crude fell $ 1.13 or 2.6%. .7 41.72 per barrel. US West Texas Intermediate CLC1 ended 2.9%, or 17 1.17, lower at .4 39.43.
JPMorgan and Citigroup in the U.S. will begin their third-quarter earnings season before the U.S. market opens on Tuesday. It is followed by Goldman Sachs, Bank of America and Wells Fargo and Morgan Stanley on Thursday.
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