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· Dow futures indicate more than 350-point pop as Biden scores early lead on Super Tuesday

U.S. stock index futures pointed to a higher Wednesday open as early results on Super Tuesday showed former Vice President Joe Biden notching key wins and reassuring investors of his place amid the top candidates in the Democratic pool.

Biden’s success early into Super Tuesday voting appeared to buoy U.S. equity futures as the former vice president notched a flurry of victories in key southern states including Virginia, North Carolina and Arkansas.

· Asian shares struggled to find their footing on Wednesday and bonds held stunning gains, as an emergency rate cut from the U.S. Federal Reserve seemed to stoke rather than soothe fears over the coronavirus’ widening global economic fallout.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2%, though most of the gains were confined to South Korea where the government announced a big stimulus package.

European futures pointed to a steady open, with FTSE futures flat FFIc1 and EuroSTOXX 50 futures up 0.3% STXEc1.

After Wall Street tumbled overnight, futures for the S&P 500 ESc1 rose 1.4% on the resurgent performance of Joe Biden in Democratic Party primaries. A moderate, Biden is now set up as the main challenger to self-described democratic socialist Bernie Sanders.

Japan's Nikkei .N225 closed flat, while Australia's S&P/ASX 200 fell 1.7%. Stocks in Hong Kong .HSI and China .SSEC traded either side of flat.

Korean stocks .KS11 bucked broader weakness, rising 2% after the government announced a $9.8 billion stimulus package to mitigate the impact of the virus outbreak.

· Mainland Chinese stocks were higher on the day. The Shanghai composite added 0.63% to about 3,011.67 while the Shenzhen component was fractionally higher at 11,493.02. The Shenzhen composite gained 0.361% to approximately 1,895.74.

A private survey released Wednesday showed China’s services sector seeing its worst month on record in February, according to Reuters. The Caixin/Markit services Purchasing Managers’ Index (PMI) plunged to 26.5 from 51.8 in January. The 50-point level in PMI readings separates growth from contraction.

· European markets traded slightly lower Wednesday following the U.S. Federal Reserve’s surprise rate cut on Tuesday.

The pan-European Stoxx 600 slipped 0.15% below the flatline in early trade, basic resources adding 0.8% to lead gains while travel and leisure stocks fell 0.9% as most sectors and major bourses entered negative territory.