September 27, 2021

Asian stocks cling to gains as Fed taper worries ease

  • Asian stock markets:
  • Pfizer/BioNTech vaccine gets full approval
  • Oil prices edge up after rallying 5% on Monday
  • Beaten-down China tech stocks advance for second session

SINGAPORE, Aug 24 (Reuters) – A bounce in China’s tech sector led Asian stocks higher on Tuesday and markets were also cheered by positive U.S. vaccination news and easing worries about an imminent tapering of stimulus by the Federal Reserve.

Nasdaq and S&P 500 futures both rose 0.15%, while European stocks markets were set for a strong opening, with Euro Stoxx 50 futures up 0.19% and German DAX futures gaining 0.16%.

The dollar was licking its wounds after its sharpest one- day fall since May, which spurred a 5% rally in oil prices on Monday.

Spiking COVID-19 infections caused by the highly contagious Delta variant have fuelled concerns about the recovery from the global health crisis.


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