GLOBAL MARKETS-Asian stocks set for modest gains as tech woes check stimulus hopes

By Jessica DiNapoli
NEW YORK, Oct 20 (Reuters) - Asian stocks were set for
modest gains on Wednesday after renewed U.S. stimulus hopes
helped Wall Street higher, although wobbles in the tech sector
could keep a lid on investor sentiment.
Australian stocks .AXJO opened slightly higher while
MSCI's gauge of stocks across the globe .MIWD00000PUS was
roughly flat. The Nikkei 225 futures .JNIc1 were up 0.25%.
"It will be quite a mixed day," said Ryan Felsman, senior
economist at CommSec. "People are digesting the potential for a
stimulus bill, and markets are very cautious on the back of
that."
Hong Kong's Hang Seng index futures .HSI .HSIc1 were up
0.24%.
The White House and Democrats in the U.S. Congress moved
closer to agreement on a new coronavirus relief package on
Tuesday as President Donald Trump said he was willing to accept
a large aid bill despite opposition from his own Republican
Party. Negotiations will continue on Wednesday, an aide to top
U.S. Democrat Nancy Pelosi said. On Wall Street, shares of Google parent company Alphabet
GOOGL.O rose despite an antitrust lawsuit against it by the
U.S. Justice Department. Netflix, however, reported disappointing earnings, leading
its shares to fall 6% after trading hours, a development that
could cause an "overhang" in Asian trading, Felsman said.
The Dow Jones Industrial Average .DJI was up 0.40% and the
S&P 500 .SPX was up 0.47%. The tech-heavy Nasdaq Composite
.IXIC rose 0.33%.
The U.S. dollar softened on Tuesday, hitting a one-month low
against a basket of major currencies, as investors awaited the
outcome of the fiscal stimulus talks and as coronavirus cases
spiked in Europe. The dollar index =USD fell 0.411%.
Benchmark U.S. Treasury yields hit four-month highs on
Tuesday on hopes lawmakers could agree on a stimulus package.
Oil prices also rose on optimism about a possible stimulus
agreement, but the threat to demand from rising COVID-19 cases
worldwide and increased output from Libya kept prices from
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