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Australian shares are set to open higher on Tuesday.
The ASX 200 would open 23 points or 0.3% higher.
The Dow Jones surged 0.45%, the S&P 500 gained 0.4%, and the NASDAQ rose 0.6%.
Australian shares are set to open higher on Tuesday following positive closing on Wall Street in the overnight trade. However, market sentiment is expected to remain muted following the release of weaker-than-expected economic data in China, and ahead of Reserve Bank of Australia's (RBA) monetary policy meeting minutes.
According to the ASX Futures, the ASX 200 would open 23 points or 0.3% higher. The benchmark index surged 0.45% to 7,064.3 points on Monday. Meanwhile, BHP, Goodman Group, and James Hardie are a few ASX-listed companies which would be announcing their financial results today.
In Europe, the Stoxx 50 rose 0.3%, the FTSE gained 0.1%, the CAC surged 0.3%, and the DAX ended 0.2% higher.
The MSCI world equity index rose 0.23%. Overnight in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan ended 0.34% lower.
Meanwhile, muted economic data in China that prompted its central bank to slash its lending rate, triggering global recession concerns,
US Treasury yields fell marginally after the stock market assessed the likely impact of inflation on the US Federal Reserve's monetary policy.
On the other hand, the US dollar index surged 0.785%, while the euro fell 0.97% to US$1.0158.
Oil prices fell over 3% on Monday following surprisingly weak economic data from China.
Gold prices declined more than 1% on Monday amid strengthening in the US dollar. The yellow metal also faced pressure due to concerns over further interest rate hikes by the US Fed.
Meanwhile, the most-traded iron ore contract, for delivery in January next year, on China's Dalian Commodity Exchange finished 2.9% lower at 707.50 yuan (US$104.64) a tonne.
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