Tech-led Wall Street rebound set to lead Asia higher

A late Wall Street rally is expected to lead Asian stocks higher on Tuesday after tech shares and oil rose on easing coronavirus restrictions and prospects of an economic recovery, overcoming concerns about renewed Sino-U.S. trade tensions.

The upturn for stocks came on more optimistic statements from the governors of California and New York for reopening businesses. Andrew Cuomo of New York on Monday outlined a phased reopening in the U.S. state hardest hit by the COVID-19 pandemic. The shift in sentiment came too late for European stocks with the pan-European STOXX 600 ending 2.7per cent lower. There were also concerns about declines in manufacturing in Europe and the U.S.

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