NEW YORK, July 7 ― Asian markets looked set to rise today as investors weighed growing expectations of an economic rebound in China and a resurgent US services industry, brushing off worries about a spike in US coronavirus cases. Australian S&P/ASX 200 futures climbed 0.52 per cent, while...
Australian S&P/ASX 200 futures climbed 0.52 per cent, while Japan's Nikkei 225 futures rose 0.07 per cent, and Hong Kong's Hang Seng index futures were up 0.68 per cent. — Reuters pic
Australian S&P/ASX 200 futures climbed 0.52 per cent, while Japan's Nikkei 225 futures rose 0.07 per cent, and Hong Kong's Hang Seng index futures were up 0.68 per cent. E-mini futures for the S&P 500 rose 0.08 per cent following a rally in global stocks yesterday. Jawboning by the Chinese government through a state-sponsored journal on the importance of “fostering a healthy bull market” helped spur the move, said Ray Attrill, head of FX strategy at NAB, in a research note.
Stocks also rallied on a sharp rebound in US services industry activity in June, almost returning to pre-pandemic levels, even as new coronavirus cases surged in several states, forcing some restaurants and bars to close again in a setback to the budding recovery.
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