US Factory Boom Lifts Asian Stocks, Bitcoin

Asian stock markets were set for gains on Tuesday, supported by robust US factory data that positively impacted sentiment for shares and Bitcoin while reducing declines in precious metals. Futures for Japanese, Australian, and Hong Kong equity indexes all showed increases in early trading. This followed a downturn on Monday, which saw sharp drops in gold and silver prices, falling around 5% and 6% respectively. US Treasuries also retreated. The US manufacturing index surged to 52.6 from 47.9, exceeding projections and indicating expansion. This demand-driven increase in factory activity signals a potential revival in the US manufacturing sector after three years of stagnation. The Federal Reserve's stance may remain unchanged for longer due to this economic resurgence, reinforcing a 'Goldilocks' narrative of solid growth with contained inflation. In other news, oil prices fell almost 5% as geopolitical premiums faded. President Trump also indicated a potential tariff reduction for India following discussions with Prime Minister Narendra Modi regarding Russian oil purchases.