TOKYO: Asian shares rose on Wednesday as better-than-expected Apple Inc earnings drove some regional tech gains although broader confidence was capped by worries about the economic impact of China's virus outbreak.
Oil futures extended gains in Asia as pessimism about the virus eased somewhat and after OPEC sources said the cartel wants to extend crude output cuts by three months to June, easing concern about excess supplies. U.S. stock futures fell 0.12per cent in Asia on Wednesday. The S&P 500 rose 1.01per cent on Tuesday, rebounding from its worst daily decline in four months on Monday, as shares of Apple Inc ahead of its fourth-quarter results.
The yield curve briefly inverted on Tuesday when 10-year yields fell below their 3-month counterparts for the first time since October. An inverted yield curve has historically been an indicator of looming recession.
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