Asian stocks are poised for a higher open on Tuesday, on the back of a strong performance in U.S. markets overnight as tech shares turned in strong gains.
Asian stocks are poised for a higher open on Tuesday, on the back of a strong performance in U.S. markets overnight as tech shares turned in solid gains. Meanwhile, the pound jumped as British Prime Minister Theresa May managed to secure last minute support from the EU for her Brexit deal before it goes to a crucial vote on Tuesday.
In Australia, the ASX 200 rose 0.53 percent in early trade as most sectors rose. Oil stocks were up, after putting in a poor showing on Monday. Following last week's tumble, U.S. crude continued to recover this week, rising 0.39 percent on Tuesday morning to settle at $57.02. That snapped a five-day losing streak on Wall Street. Better-than-expected U.S. retail sales numbers on Monday also gave a boost to confidence, after a raft of weak December data.
After falling in the last eight sessions, the pound rose by as much as 1.1 percent and hit the day's high of $1.317, according to Reuters, as chances Britain will leave the group without a deal had narrowed.
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