Pedestrians cross a road in front of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc., on Thursday, October 29, 2020. (JPX), in Tokyo, Japan.
Kiyoshi Ota | Bloomberg via Getty Images
Asia-Pacific stocks opened in positive territory as investors looked forward to a much-anticipated meeting of the Federal Reserve and US CPI data.
Hong Kong’s Hang Seng index added 1.10%, which was the main gain following an announcement to ease further Covid restrictions.
The Australian S&P/ASX 200 rose 0.38%. Japan’s Nikkei 225 added 0.37%, while the Topix was up 0.52%.
The Korean benchmark Kospi rose 0.19% and the Kosdaq rose a fraction. The broadest MSCI index of Asia-Pacific stocks outside of Japan climbed 0.42%.
In mainland China, the Shenzhen Component lost 0.174%, while the Shanghai Composite rose 0.088%.
Hong Kong will publish its third-quarter industrial production data, and the Bank of Korea will also publish minutes from its November meeting.
Australian business confidence fell into negative territory for the first time since December last year.
Traders are bracing for the release of the US consumer price index report for November and hoping for signs of declining inflation. Economists polled by Dow Jones expect a 0.3% month-over-month increase, which would mark a step down from October’s 0.4%
In the US, the blue-chip Dow gained 528.58 points, or 1.58%, overnight to 34,005.04, closing above 34,000 for the first time since December 2. The S&P 500 climbed 1.43% to close at 3,990.56, and the Nasdaq Composite added 1.26%. to stand at 11,143.74.