The Asian stock rally on Tuesday set the way for global equities to prolong their respective bull run for twelfth consecutive session, while the investors relied on a coronavirus vaccine rollout to maintain the worldwide economic recovery right on track.
The oil prices rose to a thirteen-month high as a heavy snow storm that hit the US not only increased power demand in the country but also posed a threat to Texas’ oil production.
The surging share price in Asia set a stage for revamped optimism on the global markets.
S&P500 futures rose by 0.5 per cent and the MSCI’s ACWI (all country world index), which has increased each day until now this month, rose slightly.
The MSCI’s broadest Asia-Pacific stock index outside of Japan rose 0.62 per cent, while Nikkei increased 1.4 per cent to one thirty-year high.
In Australia, the S&P/ASX200 increased 0.7 per cent for the present session while the Hang Seng Index in Hong Kong increased 1.4 per cent. The Mainland Chinese stock market would remain shut for holidays till Thursday.
Moreover, the positive impact was also pushed towards Bitcoin that was trading at USD 49.323.56 in Asian trading session during afternoon slightly less than its record figure of USD 49,715 on Sunday.