WASHINGTON (Reuters) – Asian stocks were set to follow a late Wall Street surge on Tuesday, after the Federal Reserve’s fresh move to support financial markets through the coronavirus pandemic cheered investors.
A man wearing a protective face mask, following the coronavirus disease (COVID-19) outbreak, is silhouetted in front of a stock quotation board outside a brokerage in Tokyo, Japan, June 15, 2020. REUTERS/Kim Kyung-Hoon
Crude oil also rose, on signs of a recovery in fuel demand and news suggesting major oil producing nations would meet their commitments to cut output.
The Fed on Monday announced tweaks to its bond buying program, widening the range of eligible assets to include all U.S. corporate bonds that satisfied certain criteria.
This news came after the U.S. and other major central banks halted a steep plunge in equity markets in March through a host of fiscal and economic stimulus programs that helped restore investor confidence.
However, analysts warn markets are likely to be volatile as investors g