Asian shares track Wall St. rally on easing inflation woes

Asian share markets were seen tracking Wall Street’s upswing on Tuesday. The series of gains could be attributed to easing inflation concerns as U.S. bond yields withdrew from high levels. However, investors were still cautious about an increase in new coronavirus cases across Europe.

Hong Kong’s Hang Seng index futures gained 0.5%, while Australian shares traded 0.3% higher. Futures for Japan’s benchmark Nikkei recorded a 0.8% increase as S&P 500 e-minis hiked 0.06%.

Investors grappled with an increase in coronavirus cases in Europe, partly affecting their enthusiasm. However, a decline in U.S. bond yields supported global equities and safe-haven assets, which were initially affected by Turkey President Tayyip Erdogan’s decision of dismissing the country’s central bank governor.