Asian stocks were steady early Thursday after gains in U.S. shares tied to the economic reopening from the pandemic.
Equities dipped in Japan and South Korea but rose in Australia. Traders will be monitoring China to see if stocks and the currency extend a rally.
U.S. equity contracts fluctuated after the Russell 2000 Index of small-caps jumped overnight, while energy producers, retailers and banks helped the S&P 500 Index to a more modest increase.
The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.24% to 15,264 as of 7:05 a.m.
Oil traded around $66 a barrel as shrinking crude inventories and further signs of a demand pick-up in the U.S. countered concerns around the prospect of more Iranian supply. Gold slipped from a four-month high.
The dollar was steady after rising for the first time this week amid short-covering as investors rebalance their portfolios ahead of month-end. Bitcoin retreated back below $40,000.