By Suzanne Barlyn

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 AAPL.O 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 AMZN.O 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 .IXIC on Monday staged its biggest one-day rally in a month, jumping 2.56%. The Dow Jones Industrial Average .DJI rose 0.88% and the S&P 500 .SPX gained 1.64%.

The U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high, slapped by investor demand for risk. The U.S. bond market is closed on Monday for Columbus Day.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.11% higher.

Australian S&P/ASX 200 futures YAPcm1 rose 1.05% in early trading. Hong Kong’s Hang Seng index futures .HSIHSIc1 rose 0.11%.

E-mini futures for the S&P 500 EScv1 rose 0.01%.

The dollar index =USD fell 0.078%, with the euro EUR= unchanged at $1.1813.

The pan-European STOXX 600 index .STOXX rose 0.72% and MSCI’s gauge of stocks across the globe .MIWD00000PUS gained 0.01%.

Bets that more U.S. stimulus was in the offing came despite signs that talks in Washington had stalled again, leading the Trump administration to call

NEW YORK (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 <.IXIC> on Monday staged its biggest one-day rally in a month, jumping 2.56%. The Dow Jones Industrial Average <.DJI> rose 0.88% and the S&P 500 <.SPX> gained 1.64%.

The U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high, slapped by investor demand for risk. The U.S. bond market is closed on Monday for Columbus Day.

MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> closed 0.11% higher.

Australian S&P/ASX 200 futures

rose 1.05% in early trading. Hong Kong’s Hang Seng index futures <.HSI>

rose 0.11%.

E-mini futures for the S&P 500

rose 0.01%.

The dollar index <=USD> fell 0.078%, with the euro

unchanged at $1.1813.
=>

The pan-European STOXX 600 index <.STOXX> rose 0.72% and MSCI’s gauge of stocks across the globe <.MIWD00000PUS> gained 0.01%.

Bets that more U.S. stimulus was in the offing came despite signs that talks in Washington had stalled again, leading the Trump administration to call on Congress to pass a less ambitious coronavirus relief bill.

U.S.

(Reuters) – Global stocks scaled five-week highs Monday on hopes that more government stimulus would come and that the world economy was on the mend, while the Chinese yuan retreated from a 17-month high after a policy move over the weekend. Investor optimism that Washington will work through talks that have repeatedly stalled to deliver another round of fiscal stimulus drove major U.S. stock indices to highs last seen in early September. Hopes that the top Wall Street banks will announce a decent set of third-quarter earnings this week that show business was not as weak as feared also helped, while excitement over an expected debut of Apple Inc’s latest iPhone on Tuesday buoyed technology stocks. Slugged by stronger investor demand for risk, the U.S. dollar was pinned near a three-week low and gold, another safe-haven asset, stayed below a three-week high. The U.S. bond market is closed on Monday for Columbus Day. The cheer over the economic outlook and government stimulus did not boost oil prices, which dropped as investors focused on a boost in supply. The S&P 500 jumped 57 points, or 1.64%, to 3,534.22, within spitting distance of its record high of 3,580.84 struck on Sept. 2. The Dow Jones Industrial Average climbed 250 points, or 0.88%, to 28,837.52.

Shares in Apple surged 6.4% while those in Amazon rallied 4.8% ahead of its Prime Day shopping event on Oct. 13 and 14. That helped the Nasdaq Composite to stage its biggest one-day rally in a month, jumping 296 points, or 2.56%, to 11,876.26.

“The market leaders are once again the tech names, supported by the fact that the economy continues to expand,” said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York. MSCI’s gauge of stocks across the globe climbed 1.43% to 592.96, a

By Medha Singh

Oct 12 (Reuters)The tech-heavy Nasdaq led Wall Street’s main indexes higher on Monday as optimism about an agreement in Washington over more fiscal support lifted sentiment ahead of the start of quarterly corporate earnings.

Apple Inc AAPL.O provided the biggest boost to the three main stock indexes with a 3.7% gain ahead of a special event on Tuesday, which most analysts believe will be used to unveil the new iPhone with 5G capabilities.

The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill as negotiations on a broader package ran into resistance.

“(President Donald) Trump is falling behind in opinion polls and seems desperate for a deal, so either some agreement will be hammered out soon or the Democrats could win a decisive victory at the ballot box and ultimately deliver an even greater stimulus package,” said Marios Hadjikyriacos, investment analyst at online broker XM in Cyprus.

A recent Reuters/Ipsos poll showed Americans were steadily losing confidence in Trump’s handling of the COVID-19 pandemic, with his net approval on the issue hitting a record low.

Growing expectations of a Democratic victory in next month’s presidential election as well as bets of fresh federal aid have sent Wall Street’s main indexes to one-month highs.

With the Oct. 15 presidential debate officially canceled, Trump plans to travel to key battleground states this week as his doctor declared he was no longer a transmission risk for the novel coronavirus.

Results from big U.S. banks will be in focus this week, with JPMorgan & Co JPM.N and Citigroup C.N set to report on Tuesday. Bank shares were flat to slightly higher in premarket trading.

Goldman Sachs Group Inc GS.N, which reports on Wednesday, is considering whether to scale back financial targets set

(RTTNews) – Indian shares look set to open higher on Monday, with positive global cues on the back of stimulus hopes and earnings optimism likely to help underpin investor sentiment.

There is some cheer on the economic front as data showed that India’s exports grew by an annual 5.27 percent in September on the back of a jump in iron ore trade, farm products and pharmaceuticals.

Industrial output data for August and CPI inflation figures for September will be released later today, while WPI inflation data for September will be out on Wednesday.

Reports on the balance of trade data for September and foreign exchange reserves for week ended October 9 will be released on Thursday and Friday, respectively.

Financials could be in focus today ahead of the Supreme Court hearing on loan moratorium issue. The Reserve Bank of India has filed an affidavit before the apex court saying that a loan moratorium exceeding six months could impact credit behavior of borrowers and increase the risks of delinquencies post resumption of scheduled payments.

Asian markets are rising this morning while the yuan fell as much as 0.7 percent against the dollar after the People’s Bank of China has scrapped a requirement for banks to hold a reserve of yuan forward contracts.

Biden’s lead in national polls also helped drive surging yuan gains. Gold eased on dollar strength while oil prices dropped for a second straight session after a ten-day oil workers’ strike in Norway was resolved late last week.

U.S. stocks rose on Friday to end the session at their best closing levels in over a month after President Trump said he would like to see a “bigger stimulus package than either the Democrats or Republicans are offering.”

Trump’s comments came amid reports that the White House was planning to