MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5% higher, after U.S. stocks ended the previous session with gains
Asia’s stock indexes were mostly higher Tuesday after a tech-led surge on Wall Street as investors wait for the next set of U.S inflation data due this week, which could hint at when the Federal Reserve might start cutting interest rates.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.5% higher, after U.S. stocks ended the previous session with gains.
Australian shares were 1.17% higher, while Japan’s Nikkei stock index was up 1.6%. In Australia, the S&P/ASX200 jumped after November retail sales rose 2% month on month after a 0.2% contraction in October.
Hong Kong’s Hang Seng Index was 0.26% higher while China’s bluechip CSI300 Index dropped 0.21%.
The dollar shed 0.21% against the yen to 143.9. It is still some distance from its high this year of 145.98 on January 5.
The yen was little changed after Tokyo core inflation data slowed for the second successive month in December, new data showed on Tuesday.
The result is expected to take some pressure that might encourage the BoJ to quickly exit ultra-loose monetary policy.
The euro was up 0.1% higher at $1.0957, having declined 0.72% in a month, while the dollar index, which tracks the greenback against a basket of currencies of other major trading partners, was down at 102.19.
The Dow Jones Industrial Average gained 0.58% on Monday, the S&P500 added 1.41%, and the Nasdaq jumped 2.2% after a strong surge in U.S tech stocks.
In early trade Tuesday, the yield on benchmark 10-year Treasury notes increased to 4.0267% compared with its U.S. close of 4.002% on Monday.
The two-year yield, which rises with traders’ expectations of higher Fed fund rates, hit 4.3746%, compared with a U.S. close of 4.345%.
