(Bloomberg) — China-related stocks are poised for healthy gains on Wednesday, buoyed by Beijing’s latest market rescue efforts and tracking Wall Street after the S&P 500 and Nasdaq 100 closed at all-time highs for a second straight day.
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Futures point to early gains of about 2% in Hong Kong stocks and 1% in China’s benchmark index, while Australian shares edged higher. Stocks in Japan may start slightly down. A gauge of US-listed Chinese shares surged almost 5% on Tuesday after Bloomberg News reported Beijing is considering a package of measures to stabilize its falling stock market.
US equities gained Tuesday ahead of an onslaught of company reports that promise insight into the state of the global economy. United Airlines Holdings Inc., Procter & Gamble Co. and Verizon Communications Inc. all advanced on upbeat earnings reports while 3M Co. and Johnson & Johnson fell following disappointing guidance.
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