The Dow Jones soared ahead of the US CPI report, opening the door for the Nikkei 225 and Hang Seng Index to start Tuesday’s trading session on an upbeat.
There hasn’t been an official announcement but people in the Ili Kazakh prefecture say they have been confined to their homes since early August after a Covid-19 outbreak.
The Dow Jones soared the most in almost one month, setting the stage for gains in Asia. But, the ASX 200 may struggle to find follow-through due to economic risks brewing in China.
"The west is going to suffer quite a bit in the next 12 to 24 months, [but] the US is in a good position to consolidate its gains," Mohamed El-Erian said.
Stocks completed a fifth day of losses, a stretch not seen since early July, amid growing pessimism about China’s economic outlook and sliding currency. Alibaba and Tencent led declines among tech bellwethers.