SINGAPORE — Stocks in Japan looked set to rise, following a tumble in oil prices overnight. Bitcoin meanwhile surged past a key level.
Nikkei futures were slightly higher than Nikkei 225’s last close at 27,943.89, with the contract in Chicago at 28,015 while Osaka futures were at 27,960.
Australia’s S&P/ASX 200 was 0.38% higher, as miners and oil stocks declined.
Economic data for the day ahead includes Australia’s retail sales for February.
“Shanghai accounts for 4% of China’s total oil consumption. Markets are fearing the outbreak could ultimately put under threat the 15.5 [million barrels per day] of oil the country consumes,” said ANZ Research analysts Brian Martin and Daniel Hynes.
Wall Street on Monday gained in a tech-heavy market rally. The Dow Jones Industrial Average rose 94.65 points or 0.27%. The S&P 500 climbed 0.7%, while the Nasdaq Composite gained 1.31%.
Bitcoin broke past the key level of $45,000 overnight and erased its losses for 2022, jumping as high as 6.7% to $47,914.35. It was last 6% higher at $47,606.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99.091 — jumping from levels around 98.8 from previous sessions.
— CNBC’s Arjun Kharpal contributed to this report.