Asia markets were set for a minor advance on Tuesday after the U.S. stocks managed to log small gains as investors digested further signs of economic strength, indicating that a path of tighter monetary policy lies ahead.

Australian shares rose and futures contracts for equity benchmarks in Japan and Hong Kong climbed in line with the 0.3% advance for the S&P 500 on Monday. The tech-heavy Nasdaq 100 gained 0.7% as the two US indexes partly rebounded from swift declines Friday.

Meanwhile, the yield on 10-year Treasuries advanced to 3.92%. Crude prices were trading around $82-mark, while Bitcoin was trading below 24,000-level.

At 6:05 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was unchanged at 17,487.5.

India’s benchmark indices Sensex and Nifty ended down for the seventh straight day and hit a four-month low on Monday as metals, I.T., and auto stocks fell.

Rupee continued to decline against the U.S. dollar amid speculations of further Fed rate hikes.

Overseas investors in Indian equities remained net sellers for the fourth day in a row on Monday. Foreign portfolio investors offloaded equities worth Rs 2,002.52 crore, while the domestic institutional investors were net buyers for the fourth day in a row and mopped up stocks worth Rs 2,231.66 crore.

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