Daily Times

Asian markets hunkered down on Tuesday ahead of the first US presidential debate later in the global day, with investors also remaining cautious over the global economy’s prospects as coronavirus deaths surpassed the 1-million mark worldwide.

U.S shares were set to open higher with E-mini futures for the S&P 500 up 0.43%, while London’s FTSE futures were up 0.22% and eurostoxx 50 futures were up 0.34%. “Globally, a loss of momentum and the renewed rise in COVID-19 infection rates points to the need for additional fiscal and monetary support. That policy outlook is continuing to provide a supportive backdrop to equities despite recent volatility,” ANZ Bank analysts wrote in a note.

Japan’s benchmark Nikkei average edged up 0.22% into positive territory while China’s blue-chip CSI 300 index climed 0.51%.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.31% to 554.56. Hong Kong’s Hang Seng index however was down 0.24%, wiping out morning gains.

Australia’s S&P/ASX 200 index also fell back to trade flat after earlier touching its highest level in three weeks.