Asian stocks set for slight gains after Wall Street ends higher

NEW YORK: Asian stocks were set for cautious gains on Friday after positive U.S. economic data and signs of progress in stimulus talks in Washington lifted Wall Street benchmarks.

Australia's S&P ASX 200 and MSCI's gauge of stocks across the globe were roughly flat. Hong Kong's Hang Seng index futures were down 0.11per cent. U.S. economic data surprised to the upside, as jobless claims fell more than expected and existing home sales exceeded estimates to more than a 14-year high.The Dow Jones Industrial Average rose 0.54per cent, and the S&P 500 gained 0.52per cent. The tech-heavy Nasdaq Composite bumped up 0.19per cent.

The United States was also on the brink of a widespread coronavirus outbreak, with nearly two-thirds of states in a danger zone with six reporting record one-day increases in COVID-19 deaths on Wednesday.

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Singapore stocks edge up despite Wall Street retreat; STI up 0.1%LOCAL equities inched up on Thursday as traders continued to harbour hopes of a fiscal stimulus package ahead of the upcoming US presidential election. Read more at The Business Times.
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