Asian markets push higher after U.S. bounce

- Asian markets largely opened higher on Tuesday, building on newfound momentum after bargain hunters helped a recovery in U.S. markets in the wake of last week’s selloff.

Australia’s S&P/ASX 200 index rose 0.22%, while New Zealand’s S&P/NZX 50 index edged down 0.27% after rising in early trade. U.S. consumer confidence and home price data is also due later. Upcoming U.S. economic data should help show how well the country is positioned to rebound from pandemic lockdowns, and how necessary more stimulus will be.

U.S. traders posted strong gains on Wall Street on Monday, particularly in hard-hit sectors like hotels, banks and airlines which posted sizeable gains after several days of decline. Safe-haven spot gold added 0.21% to $1,884.77 an ounce. U.S. gold futures gained 0.54% to $1,883 an ounce.

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Source: Reuters - 🏆 2. / 97 Read more »