Asia-Pacific markets fall despite record US stocks
Asia-Pacific markets fell on Tuesday, failing to track gains on Wall Street as US benchmarks hit record highs following President-elect Donald Trump’s choice for Treasury secretary.
Australia’s S&P/ASX 200 traded 0.28% lower, after hitting an all-time closing high on Monday.
Japan’s Nikkei 225 fell 0.82%, while the Topix fell 0.64%. Japan’s services PPI rose 2.9% year-on-year, compared with a 2.8% gain the previous month. The Kospi fell 0.40% in the first hour of trading.
Hong Kong’s Hang Seng index futures were at 19,245, up from the HSI’s last close of 19,150.99.
Traders in Asia-Pacific will be watching Singapore’s October manufacturing output release. Reuters analysts had forecast a 2.2% year-over-year gain, compared with a 9.8% gain in September.
In the U.S., a stock rally pushed the Dow Jones Industrial Average, the S&P 500 and the Russell 2000 to new highs on Monday as investors cheered Trump's decision to nominate Scott Bessent, founder of Key Square Group.
The Dow rose 440.06 points, or 0.99%, to 44,736.57. The S&P 500 gained 0.3% to close at 5,987.37. Both hit new all-time highs in the session, while the Dow also notched a new closing record. The Nasdaq Composite rose 0.27%, ending the day at 19,054.84.
Source: CNBC
