Asian stocks and U.S. futures rose Tuesday as investors weighed the pace of growth as nations vaccinate and economies reopen against a pick-up in virus cases in the region. The dollar dipped.
Taiwan outperformed, jumping as much as 4%, after its biggest rout in more than a year. Japan and South Korea paced gains in a gauge of the region’s stocks. Nasdaq 100 futures outperformed.
India’s SGX Nifty 50 Index futures for May delivery rose 1.1% to 15,116, while MSCI Asia Pacific Index gained 1.3%. The NSE Nifty 50 Index added 1.7% Monday to 14,923.15.
Oil was steady near a two-year high as rising optimism around a demand recovery in regions such as the U.S. offset Covid-19 flare-ups in parts of Asia. The dollar edged lower, while Treasuries were stable after retreating.
Bitcoin fluctuated following a volatile weekend that saw comments from Tesla Inc.’s Elon Musk whipsaw prices. Coinbase Global Inc. fell to a record low and below the reference price used in its April direct listing. Gold traded near its highest in almost four months.
Back home, Bharti Airtel, Gland Pharma, MRPL, WABCO India may react as the companies reported quarterly results after the market closed Monday. Tata Motors, Torrent Pharma, Canara Bank, PI Industries are among the companies scheduled to report earnings Tuesday. Foreign investors sold net Rs 2,480 crore of stocks on May 14, according to NSDL website.