Asian stocks extend global gains ahead of US inflation test

Asian stocks extend global gains ahead of US inflation test

The congressional passage of a long-delayed U.S. $1 trillion infrastructure bill over the weekend has cheered investors, who however face another test later in the week from a reading on U.S. inflation that may influence plans for tightening monetary policy.







Reuters









November 09, 2021 / 07:46 AM IST





Asian shares followed Wall Street higher in early trade on Tuesday as the passage of a U.S. infrastructure bill boosted sentiment while oil prices gained on the outlook for energy demand in an expansive global economy.

The congressional passage of a long-delayed U.S. $1 trillion infrastructure bill over the weekend has cheered investors, who however face another test later in the week from a reading on U.S. inflation that may influence plans for tightening monetary policy.

Early in the Asian trading day, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3%.

Japan’s Nikkei stock index rose 0.06% while Australian shares were down 0.12%.

China’s blue-chip CSI300 index was 0.33% higher in early trade. Hong Kong’s Hang Seng index opened up 0.65%.

On Monday, Wall Street’s benchmark S&P 500 index and the Nasdaq extended their run of all-time closing highs to eight straight sessions, while the