People visit the riverside in front of the Lujiazui Financial District during the National People’s Congress in Shanghai, China, March 7, 2023.
Song Ali|Reuters
Asia-Pacific markets set for gains on Tuesday following Fed Cut interest rates by 25 basis points Major U.S. stock indexes continued to rise after the election.
In Asia, investors will focus on the final day of China’s National People’s Congress, where fiscal stimulus measures are expected to be announced aimed at supporting the world’s second-largest economy.
In Japan, the country will release spending data for September, which will provide clues on the Bank of Japan’s future policy path. Strong spending data will support a rate hike by the Bank of Japan and vice versa.
Japanese Nikkei 225 Index The Chicago futures contract was at 39,705 points and the Osaka futures contract was at 39,680 points. The last closing price of the index was 39,381.41 points.
Hong Kong Futures Hang Seng Index The Hang Seng Index closed at 21,301 points, opening strongly, and closed at 20,953 points. If stocks follow futures, the Hong Kong index will hit its highest level in about a month.
Australian S&P/ASX 200 Index It rose 1%, rising for a third consecutive day.
U.S. stocks overnight, with the S&P 500 and Nasdaq rising on Thursday, extending gains following Donald Trump’s victory in the U.S. presidential election and the Federal Reserve’s latest interest rate cut.
this S&P 500 Index It rose 0.74% and closed at a record high of 5,973.10 points. this Nasdaq Index It rose 1.51% to 19,269.46, closing above 19,000 points for the first time.
this Dow Jones Industrial Average There was little change, down less than a percentage point. All three major stock indexes hit intraday record highs. The Dow Jones rose 1,500 points in the previous session.
—CNBC’s Lisa Kailai Han and Jesse Pound contributed to this report.
