Asian stocks were set to edge higher early on Thursday after big tech rallied on Wall Street and as President Joe Biden announced a multi-trillion-dollar infrastructure investment plan.
The dollar, meanwhile, hit a one-year high against the yen and multi-month peaks with other currencies as investors bet U.S. fiscal stimulus and aggressive vaccinations will help the United States lead a global pandemic recovery.
Tech stocks were likely to push Australian shares higher at least initially on Thursday in Asia, but optimism could be cooled by concerns about inflation and interest rates.
Australian S&P/ASX 200 futures rose 0.28% in early trading, while Hong Kong’s Hang Seng index futures rose 0.81%. Japan’s Nikkei 225 futures fell 0.10%.