SINGAPORE – Asia-Pacific shares traded higher on Tuesday morning as investors awaited remarks by US President-elect Joe Biden for Finance Minister Janet Yellen.
In Japan, the Nikkei 225 rose 0.96% while the Topix index rose 0.46%. South Korea’s Kospi rose 0.11%.
Shares in Australia also gained gains, with the S & P / ASX 200 up about 1%.
MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.13% higher.
Former Federal Reserve Chairman Yellen will tell the Senate Finance Committee on Tuesday that the government, according to its Reuters, should take major action with its next Covid relief package, which calls for a prepared opening statement for its hearing before the committee.
Meanwhile, the Wall Street Journal reported that the expectation is that Yellen will make it clear that the US does not want a weaker dollar.
On the front lines of the coronavirus, the head of the World Health Organization on Monday warned of a “catastrophic moral failure” due to unfair vaccination of vaccines.
The outside of the markets was closed for a holiday on Monday.
Currencies
The US dollar index, which follows the rate behind a basket of its peers, was at 90,765 – higher than the levels below 90.4 last week.
The Japanese yen was at 103.68 per dollar, even stronger than the levels of more than 104.1 against the setback in the previous trading week. The Australian dollar changed from $ 0.769, from less than $ 0.775 last week.
– This article has been updated to accurately reflect the movements of the S & P / ASX 200 in Australia.