Asian stocks and U.S. equity futures rose early Monday as some of the concerns over Covid-19 reopening disruption and China’s regulatory crackdown eased.
Equities climbed in Japan, South Korea and Australia, where Afterpay Ltd. surged after digital-payments platform Square Inc. agreed to buy the buy-now, pay-later company. Futures on the S&P 500 and Nasdaq 100 pushed higher. Wall Street retreated Friday, including a slide in Amazon.com Inc., amid concern earnings growth at technology companies has peaked.
Hang Seng contracts earlier signalled a steady open. China is pushing ahead with a crackdown on everything from technology to private education and property, leading the U.S. Securities and Exchange Commission to halt initial public offerings of Chinese firms pending better risk disclosures. Its Chinese counterpart called for more communication to find a resolution.
The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.74% at 15,890.50 as of 7:10 a.m.
Crude oil traded near $74 a barrel as concerns about the delta variant’s impact on fuel demand eased amid tight global supplies. Bitcoin slipped back below $40,000.