⁍ Asian shares and U.S. stock futures rose on Wednesday as renewed hopes for a new round of U.S. stimulus drew money into equities from government debt.

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⁍ The yuan surged to the strongest level against the dollar in more than two years on growing optimism about China’s economy.

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– The yuan surged to the strongest level against the dollar in more than two years on growing optimism about China’s economy and speculation that a victory for US Democrat presidential candidate Joe Biden next month will lead to better Sino-US ties. The yuan surged to the strongest level against the dollar in more than two years on growing optimism about China’s economy and speculation that a victory for US Democrat presidential candidate Joe Biden next month will lead to better Sino-US ties, reports Reuters. Benchmark US Treasury yields hit a four-month high and the yield curve steepened on expectations for more US fiscal spending, but some investors remain cautious about the chances of a deal before the US presidential election on Nov. 3. “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.” On Wall Street, shares of Google parent company Alphabet rose despite an antitrust lawsuit against it by the US Justice Department. Netflix, however, reported disappointing earnings, leading its shares to fall 6% after trading hours. The Dow Jones Industrial Average ended up 0.40% on Tuesday. The S&P 500 rose 0.47%, and the tech-heavy Nasdaq Composite rose 0.33%. The onshore yuan jumped to 6.6602 per dollar, the strongest since July 2018.