Asian stocks rose at the open Tuesday after the S&P 500 closed at a record high on the first trading day of 2022. Treasuries maintained most of their losses

Equities advanced in Japan and Australia as they traded for the first time this year. U.S. futures wavered after the Nasdaq 100 outperformed. The U.S. gains followed European stocks which hit unprecedented highs even as trading volumes remained light because of holidays.

The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 17,685.50, as of 7:15 a.m.

The dollar held gains. Elsewhere, crude oil in New York held gains to trade near $76 a barrel following news Libya’s crude output is expected to fall to the lowest in more than a year and ahead of an OPEC+ meeting on Tuesday to discuss production. Bitcoin hovered around $46,000.

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