Asia-Pacific investors cautious despite post-US election rally
Asia-Pacific markets were mixed on Tuesday, with investors cautious even as the Dow Jones Industrial Average’s post-election rally continued to gain momentum to close at a record high.
Australia’s S&P/ASX 200 fell 0.33%. Japan’s Nikkei 225 gained 0.23% while the Topix gained 0.68%. South Korea’s Kospi fell 1.25%, while the Kosdaq Composite dropped 2.04%
Hong Kong’s Hang Seng futures were at 20,324, lower than the HSI’s last close of 20,426.93.
Traders in Asia-Pacific will be watching a slew of economic data from the region, including the National Australia Bank’s survey on business conditions, Indonesia’s September retail sales and India’s October consumer price index.
OPEC oil cartel will also release its monthly oil market report later in the day.
The Dow Jones Industrial Average jumped more than 300 points on Monday and closed at a record high as the post-election rally continued.
The 30-stock Dow rose 304 points, or 0.69%, to 44,293.69. The gain took the index above 44,000 for the first time. The S&P 500 gained 0.1% to end the day at 6,001.35 and also posted a record close by topping 6,000 for the first time. However, the Nasdaq Composite held near the flatline, rising 0.06% to 19,298.76.
Bitcoin surged above $87,000, boosted by deregulation hopes as well. Crypto-related stocks Coinbase and Mara Holdings rose 20% and 30%, respectively.
Source: CNBC
