Asia-Pacific stocks to open higher following Wall Street’s rebound

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Asia-Pacific stocks to open higher following Wall Street’s rebound

Sunrise around the Bund river district on November 02, 2023 in Shanghai, China.

James D. Morgan | Getty Images News | Getty Images

Asia-Pacific markets are set to open higher on Tuesday, following gains on Wall Street that saw both the S&P 500 and Nasdaq Composite rebound from their worst week of the year.

The S&P 500 gained 1.16%, after posting its worst week since March 2023. The Nasdaq Composite also jumped 1.16% following its worst week in more than two years.

Traders in Asia will monitor August trade data from China and India. China’s exports and imports for August are expected to grow by 6.5% year-on-year and 2.0%, respectively, significantly slower than the previous month’s pace.

Futures for Australia’s S&P/ASX 200 stood at 8,043.0, higher than its last close of 7,988.1.

Japan’s Nikkei 225 futures also pointed to a stronger open for the market, with the futures contract in Chicago at 36,410 and its counterpart in Osaka at 36,320 compared to the previous close of 36,215.75.

Hong Kong Hang Seng index futures were at 17,216, higher than the HSI’s last close of 17,196.96.

Overnight in the U.S., the Dow Jones Industrial Average tracked the rise in the S&P and Nasdaq, ending 1.2% higher after the 30-stock index lost more than 1,200 points last week.

—CNBC’s Pia Singh and Lisa Kailai Han contributed to this report.

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