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 nearly 2% in Tuesday morning trading in Hong Kong, suggesting U.S. shares could rise later Tuesday. Australia’s benchmark S&P/ASX 200 rose 1.6%, while indexes in New Zealand and South Korea advanced more than 2% and Japan’s Nikkei 225 gained more than 3.9%.

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