Asian stocks rose early Tuesday after U.S. shares rebounded amid easing concerns among equity investors about the impact of the omicron coronavirus strain on global reopening.
Shares climbed in Japan, Australia and South Korea. U.S. futures pushed higher after the S&P 500 wiped out its November losses and the technology-heavy Nasdaq 100 more than recouped Friday’s rout.
The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.24% at 17,131 as of 7:00 a.m.
The picture was different in Treasuries, which dipped but retained much of the haven rally induced by the virus. Federal Reserve Chair Jerome Powell said omicron poses risks to both sides of the central bank’s mandate for stable prices and maximum employment.
The yen weakened and a dollar gauge was steady. Crude oil advanced. Separately, traders are awaiting purchasing-manager indexes from China to assess the outlook for the world’s second-largest economy.