Asian stocks were set for a strong open on Tuesday, helped mostly by global recovery prospects and the passage of a US$1.9 U.S. trillion stimulus bill, shaking off a mixed Wall Street session after a big downturn in tech shares.
Although futures markets suggested a higher open across Asia, Michael McCarthy, chief markets strategist at CMC Markets, said there was still a lot of uncertainty. "If rates are grinding higher because people are getting optimistic about what economic growth looks like, that is still supportive for equity prices," said Tom Hainlin, global investment strategist at U.S. Bank Wealth Management's Ascent Private Wealth Group in Minneapolis.
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