October 20, 2021

Asian Stocks Set to Rise on Easing Inflation Fears: Markets Wrap

(Bloomberg) — Asian stocks look set to rise Tuesday after technology shares spurred a Wall Street rally as Federal Reserve officials sought to soothe concerns about inflation. Bitcoin surged following last week’s crypto rout.

Futures pointed higher in Japan, Australia and Hong Kong. U.S contracts edged up after the S&P 500 climbed and the Nasdaq 100 outperformed amid a jump in Apple Inc., Amazon.com Inc. and Tesla Inc. Bitcoin soared in part on Elon Musk’s support for an apparent effort to improve its green credentials.

The Fed comments aided investor sentiment, as officials reiterated that they expect transitory rather than lasting price pressures from the U.S. economic reopening. Benchmark 10-year Treasury yields and the dollar retreated.

Oil held gains after Iran said that gaps remain in negotiations aimed at reaching a deal to end U.S. sanctions on its crude. The Bloomberg…

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