Asian shares rebounded from twoweek lows on Tuesday as rising commodity prices boosted market expectations of an improved growth outlook, a day after rising U.S. Treasury yields and inflation prospects hit U.S. tech shares.
Europes Eurostoxx 50 futures and Germanys DAX futures FDXc1 both gained 0.2, while futures for Londons FTSE FFIc1 rose 0.3. Emini futures for the SP 500 advanced 0.5.
MSCIs broadest index of AsiaPacific shares outside Japan advanced 0.4 to 726.6 after dipping to 719.8, the lowest level in two weeks. The gauge has eased from last weeks record top but is still up about 9 so far this year.
Buoyed by the rally in commodities, the Australian SPASX 200 index to rose nearly 0.9. Singapores Straits Times index put on 0.6 and Taiwan was up 0.2. Hong Kong advanced 1, while the techladen South Koreas Kospi lost 0.3.
Japanese markets were closed for a public holiday.
We are in unprecedented times, but the likelihood is that low interest rates will persist long after the world economy has shaken off the pandemic, Keith Wade, chief strategist at Schroders said in a note.
For financial markets, such an outlook will intensify the search for yield and no doubt create volatility and bubbles as investors chase returns in the zero environment, Wade added.
On Wall Street, highgrowth stocks such as Apple, Microsoft and Tesla weighed on the Nasdaq Composite, which shed 2.5 on Monday.
Commodity prices again strengthened on Tuesday. Oil prices rose on a tight global…