Asian equities were poised to rise on Friday after a tech-driven rally on Wall Street in which the Nasdaq hit a record high despite downbeat data that affirmed the Fed's dour outlook on U.S. economic recovery.
"It was another great day for tech stocks, continuing this trend that companies doing well are those driving innovation or whose businesses haven't been disrupted by the shutdown," said Mitch Rubin, chief investment officer at RiverPark Funds.Australian S&P/ASX 200 futures rose 0.17per cent, Japan's Nikkei 225 futures added 0.13per cent, while Hong Kong's Hang Seng index futures rose 0.71per cent.
The benchmark S&P 500 index also completed its fastest recovery from a bear market this week, joining the Nasdaq in scaling new peaks despite signs that other parts of the U.S. economy are still far away from pre-pandemic levels. A bull market has now been confirmed for the S&P 500.
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