Asian stocks rose Tuesday as technology shares rallied and the prospect of solid corporate earnings helped counter concerns stemming from elevated inflation. The dollar declined.
MSCI Inc.’s Asia-Pacific equity index was at its highest since late September. Hong Kong outperformed and the city’s gauge of Chinese tech stocks surpassed its 50-day moving average. U.S. and European futures were little changed after U.S. stocks gained, with the Nasdaq 100 leading the way.
Treasury yields declined and a flattening in the yield curve paused. In Australia, the three-year bond yield was lower after the minutes from the central bank’s latest policy meeting put a dampener on early rate-hike bets.
In China, the focus is on debt-laden China Evergrande Group’s real-estate unit and its coupon payment due on a local bond.
The oil rally paused with prices around multiyear highs. A natural-gas shortage is spurring demand for products like fuel oil and diesel for power generation. Investors are paying close attention to the earnings season to see how higher costs for energy and raw materials are affecting margins.
Bitcoin traded around $62,500. ETF issuer ProShares is preparing to launch its Bitcoin futures fund on the New York Stock Exchange on Tuesday.
Nikkei +0.59% Hang Seng +1.25% CSI +1.08% Shanghai +0.74% Shenzen +0.79%
Eur$ 1.1648 CNH 6.4069 CNY 6.4117 JPY 114.17 GBP 1.3772 CHF 0.9210 RUB 71.0975 TRY 9.3518 WTI$ 82.74 Gold 1774.10 BTC 62,400 +1000 ETH 3820 +86
S&P +0.01% Nasdaq +0.01 Eurostoxx +0.08% FTSE +0.04 Dax +0.14% SMI
Macro :
- Bitcoin Bull Tom Lee Says Futures ETF May Attract $50 Billion
- City of London Well-Placed to Thrive Post-Brexit, Johnson Says
- Hedge Funds to Get a New Playground in Commodities: China Today
- EU Seeks to Extend Relaxation of State Aid Rules Beyond ‘21: FT
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