Asia-Pacific markets climbed on Tuesday after Wall Street hit new records, with the Nikkei surging to all-time highs following reports of a potential snap election in Japan next month.
By 11:55 am AEDT (12:55 am GMT), Australia’s S&P/ASX 200 had gained 0.9% to 8,838.60 points, Japan’s Nikkei 225 was up 3.6% to 53,730.66 and South Korea’s Kospi 200 rose 0.8%% to 678.21.
Japan’s ruling Liberal Democratic Party is likely to dissolve the country’s House of Representatives on 23 January, NHK reported, with an election possible in February. The Nikkei 225 reached a record 53,814.79 today following Monday’s public holiday.
Australian consumer confidence fell 1.7% this month, per the Westpac-Melbourne Institute Consumer Sentiment report today. Expectations of family finances and economic conditions across the next 12 months dropped, and around 64% of respondents expect mortgage rates to rise this year.
India’s annual consumer price index inflation increased 1.33% in December, according to data released yesterday. This is up from 0.71% in November but below ANZ estimates of 1.8%.
In the United States, the S&P 500 closed 0.2% higher, the Dow Jones Industrial Average was up 0.2%, and the Nasdaq Composite increased 0.3%. The S&P and Dow notched fresh intraday highs and record closes.
Brent crude prices gained 0.8% to US$63.87 per barrel, a seven-week high, amid ongoing anti-government protests in OPEC+ member Iran.
Spot gold closed at a record $4,614.7 per ounce after the U.S. Justice Department began an investigation into Federal Reserve chair Jerome Powell, with gold often used as a hedge against threats to the Fed’s independence.
The Shanghai Composite climbed 1.1% to 4,165.29. The CSI 300 was up 0.7% to 4,789.92.
Hong Kong’s Hang Seng Index rose 1.4% to 26,608.48, while India’s BSE Sensex lifted 0.4% to 83,878.17.
European markets increased, with the United Kingdom’s FTSE 100 up 0.2% to 10,140.70. Germany’s DAX climbed 0.6% to a record close at 25,405.34, while France’s CAC 40 was flat at 8,358.76
