NEW YORK, Oct 12 (Reuters) – Asian stocks were set to rise on Tuesday as a renewed tech rally and fresh optimism that Washington would deliver a coronavirus relief package helped lift global equity markets.
Shares in Apple Inc surged 6.4% on Wall Street on Monday ahead of an expected debut of its latest iPhone on Tuesday, helping boost technology stocks, while Amazon rallied 4.8% ahead of its Prime Day shopping event this week.
CommSec Senior Economist Ryan Felsman said a COVID-19 resurgence in Europe and the United States is partly fueling the tech rally.
“Once again, there is a desire to hold the stay-at-home types of technology stocks…which will still generate profits and will be greatly oriented to a more challenging economic environment,” Felsman said.
On Wall Street, the Nasdaq Composite on Monday staged its biggest one-day rally in a month, jumping 2.56%. The
* Graphic: World FX rates tmsnrt.rs/2egbfVh
* China Manufacturing PMI for September 51.5 vs August's
* Chaotic U.S. presidential debate leaves more questions
By Nikhil Nainan
Sept 30 (Reuters) - An early boost to Asia's emerging stock
markets from Chinese economic data faded on Wednesday as a
chaotic first U.S. presidential debate weakened sentiment
globally and traders reined in bets ahead of several regional
The debate saw heated clashes between President Donald Trump
and Democratic rival Joe Biden, leaving more doubts about the
November election and whether Trump would accept an unfavourable
result than clarity of who could come out on top.
Chinese stocks had initially led gains after two
surveys showed China's factory activity, a bellwether for the
region, still firmly in growth territory in September.
Malaysia, Taiwan and the Philippines all held onto gains of
around 0.4% as the day wore on, but both Shanghai