Asian shares rebounded on Wednesday as investors pinned hopes on China eventually reopening its economy despite growing COVID lockdowns that pushed its factory and services sector activity deeper into contraction. Hong Kong's Hang Seng Index and China's benchmark CSI300 Index also bounced back, rising 0.82% and 0.1% respectively, as investors largely ignored an official survey that showed China's factory activity contracted at a faster-than-expected pace in November.
U.S. stocks are seen opening just higher Tuesday, rebounding after the previous session’s sharp losses, helped by optimism that China could soon ease COVID-19 restrictions ahead of more quarterly earnings. At 07:00 ET (12:00 GMT), the Dow Futures contract was up 40 points, or 0.1%, S&P 500 Futures traded 13 points, or 0.3%, higher and Nasdaq 100 Futures climbed 65 points, or 0.6%. The three main stock indices closed lower Monday as civil unrest in China about the government's strict Covid lockdown policies sparked fears of a global growth slowdown.