Asian stocks set to rise on U.S. stimulus hopes, gold hits record

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NEW YORK: Asian equities were set for a modest rise on Tuesday as investors weighed progress in U.S. government stimulus efforts against rising tensio...

Asian equities were set for a modest rise on Tuesday as investors weighed progress in U.S. government stimulus efforts against rising tensions with China and the growing coronavirus pandemic, while gold hit a record high.

Hong Kong's Hang Seng index futures were up 0.54%, Japan's Nikkei 225 futures rose 0.11% and Australian S&P/ASX 200 futures were up 0.43%.On Wall Street, the Dow Jones Industrial Average rose 114.88 points, or 0.43%, to 26,584.77, the S&P 500 gained 23.78 points, or 0.74%, to 3,239.41 and the Nasdaq Composite added 173.09 points, or 1.67%, to 10,536.27.

Concerns about the U.S. economic outlook have started to weigh on the dollar. The dollar index USD=, which measures the greenback against six other major currencies, dropped 0.5% to its lowest level in nearly two years, supporting the rise in gold. U.S. investors, also on Monday, bet on some of the market's most high-profile stocks ahead of earnings reports.

 

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