U.S. stock-index futures and global equities rose after the Federal Reserve stepped up its assistance to the American economy, saying it would back lending to businesses and buy essentially unlimited amounts of government debt.

S&P 500 futures gained more than 3% in Tuesday morning trading in Hong Kong, suggesting U.S. shares could rise later in the day. Japan’s Nikkei 225 and South Korea’s Kospi led a regional rally, with both indexes gaining more than 6%. A second day of sharp gains for SoftBank Group on a $41 billion…

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