Asian stocks set to rise on Big Tech surge, dollar slides

Asian equities were set to rise on Friday after shares of Apple , Amazon and Facebook surged in extended trading on Thursday, with Alphabet also climbing, while the U.S. dollar continued to slide.

Deemed"stay-at-home" winners as millions of Americans were ordered indoors to contain the COVID-19 pandemic, shares of the largest U.S. technology companies have hit record highs in recent months as the coronavirus pandemic has thrown the economy into its steepest contraction since the Great Depression.

U.S. stock markets, oil prices and the dollar slid on Thursday as new government data underscored the deep economic impact of the coronavirus and U.S. President Donald Trump raised the possibility of delaying the November election. The dollar has fallen on expectations the Fed will maintain its ultra-loose monetary policy for years, which risks adding inflationary pressure.

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Big Tech CEOs to defend their companies before US Congress by listing competitorsWASHINGTON: The chief executives of four of the world's largest tech companies –Amazon, Facebook, Apple and Google – plan to argue in a ...
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