Asia-Pacific Markets Mostly Rise as Investors Await Trump Policies
Asia-Pacific markets mostly rose on Tuesday, as investors awaited greater clarity on policies of US President Donald Trump following his inauguration. Australia’s S&P/ASX 200 advanced 0.66% to end the day at 8,402.40, while Japan’s benchmark Nikkei 225 closed up 0.32% at 39,027.98. South Korea’s Kospi closed down 0.08% at 2,518.03, while Hong Kong’s Hang Seng index rose 1.02% in its last hour of trade. Mainland China’s CSI 300 Index rose 0.08% to end the day at 3,832.61.
Several central banks in Asia will be convening later this week. Malaysia’s central bank is expected to keep its policy rate steady at 3% on Wednesday, while the Bank of Japan is holding its next policy meeting from January 23 to 24. BOJ Governor Kazuo Ueda has signaled intentions to hike rates. Singapore’s Monetary Authority of Singapore will be meeting on Friday.
In the US, markets were closed due to the Martin Luther King Jr. public holiday. However, US stock futures were higher after Trump’s swearing in and his promise of a new “golden age” for the US. He also issued a slew of executive orders, which notably did not include tariffs. Futures tied to the S&P 500 gained 0.5%, while Nasdaq 100 futures ticked up 0.6%. Dow Jones Industrial Average futures advanced 221 points, or 0.5%.
