Stocks, oil rise in Asia after U.S. records

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Asian stock markets rose on Tuesday after a record-setting day on Wall Street, while Bitcoin paused for breath after an overnight endorsement from Tesla Inc sent the cryptocurrency up 20%.

FILE PHOTO: A man wearing a face mask, following the coronavirus disease outbreak, stands on an overpass with an electronic board showing Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China January 6, 2021. REUTERS/Aly SongMSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.32 % at 721.53 after climbing as high as 730.16 late last month.

Expectations have been building that inflation would pick up as governments and central banks continue massive spending and easy money policies until officials are certain that their economies will recover from the coronavirus pandemic. Tesla Inc said overnight it had invested around $1.5 billion in the virtual currency and expects to accept it as payment for its cars in the future.

 

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