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Asia stocks set to gain after recovery hopes push Wall Street higher

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Asian stocks were set to climb on Tuesday as confidence in an economic recovery pushed the Nasdaq benchmark to a record high, although doubts about crude supply cuts were likely to keep oil prices under pressure.

FILE PHOTO: A man wearing a protective face mask, following the coronavirus disease outbreak, walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, May 18, 2020. REUTERS/Kim Kyung-Hoon

Australian S&P/ASX 200 futures were up 0.67% and Hong Kong’s Hang Seng index futures rose 0.52%. However, Japan’s Nikkei 225 futures were down 0.04%.​ U.S. stocks also added to gains late in the trading session after the Federal Reserve eased the terms of its “Main Street” lending program to encourage more businesses and banks to participate.

The Organization of Petroleum Exporting Countries and others had on Saturday agreed to sustain cuts equal to about 10% of global oil supply.

 

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Guys you lack excuses for the continuing bull rally. It's like ''the market is up because the sun was shining today''

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