Asian shares pose for strong rally as U.S. equities surge
Asian share markets were off to a strong start on Tuesday. The series of gains came after Wall Street’s upbeat performance boosted shares across the region, with investors also waiting for the Federal Reserve’s meeting later this week.
Futures for Japan’s Nikkei traded 0.10% higher, while Hang Seng index futures recorded a 0.55% increase. Australia’s S&P/ASX 200 index gained 0.24% during its early session. However, S&P 500 e-minis bucked the trend to record a 0.16% decline. MSCI’s broadest index across the globe had seen a 0.04% jump.
The S&P 500 and the Dow Jones Industrial Average, two of Wall Street’s main indexes, both advanced as travel stocks gained on mass inoculation in the United States and the enactment of U.S. President Joe Biden’s $1.9 trillion stimulus package.