Stock futures rise slightly after rip-roaring rally leads Dow to record closing high: Live updates

The yen weakened 0.2% to 157.39 per dollar on Tuesday after strengthening in previous sessions.

Japan’s Finance Ministry said Monday it had conducted a coordinated yen-buying operation with the U.S. Treasury on Friday, marking a rare joint move by the two allies to stem sharp swings in the Japanese currency.

Martin Schulz, chief policy economist at Fujitsu, said Washington’s decision to join the intervention reflected growing confidence that Japan was finally committed to restoring currency stability through a mix of monetary tightening and fiscal expansion, he told CNBC.

“Japan has allowed the yen to slip too far, causing investors to lose trust in a unilateral reversal,” he said. “As the U.S. supports yen intervention, it will also demand policies that promote foreign exchange stability.”

—Lee Ying Shan

Asia-Pacific markets were set to open lower Tuesday.

Japan’s Nikkei 225 was poised to fall, with its Chicago futures contract at 63,600 and its Osaka counterpart last trading at 63,470 compared with the index’s previous close of 63,754.9.

Hong Kong Hang Seng index futures were last at 25,981 compared with the index’s last close of 26,009.4.

In Australia, S&P/ASX 200‘s futures last traded at 8,970 compared to the index’s last close at 9,019.3.

U.S. President Donald Trump said Monday that talks with Iran were underway and described them as Tehran’s “last chance” to secure a favorable agreement to end the Mideast war. Iran, however, denied that negotiations had taken place or were planned.

— Lee Ying Shan

Equity futures were flat after a huge Monday rally that sent the Dow Jones Industrial average to a record high.

The rally was driven by lower oil prices and tech stocks that found their footing again after a deep unwinding in the momentum trade.

– Tobias Burns