SINGAPORE – Asia Pacific stocks traded higher on Tuesday morning, while investors await comments from US President-elect Joe Biden’s nominee to Treasury Secretary Janet Yellen.
In Japan, the Nikkei 225 rose 0.96%, while the Topix index advanced 0.46%. South Korea’s kospi rose 0.11%.
Australia’s shares also posted gains, with the S & P / ASX 200 rising about 1%.
The broader MSCI index for Asia Pacific stocks outside Japan was traded 0.13% above.
Former Federal Reserve chairman Yellen is due to tell the Senate Finance Committee on Tuesday that the government must “act big” with its next Covid aid package, according to Reuters, which cited a statement from opening prepared for its hearing before the committee.
Meanwhile, the Wall Street Journal reported that Yellen must make it clear that the United States is not looking for a weaker dollar.
In front of the coronavirus, the head of the World Health Organization on Monday warned of a “catastrophic moral failure” due to the unjust launch of vaccines.
US markets were closed on Monday for public holidays.
Coins
The US dollar index, which tracks the US dollar against a basket of its peers, was at 90.765 – above levels below 90.4 seen last week.
The yen was at 103.68 per dollar, even stronger than levels above 104.1 against the dollar seen in the previous trading week. The Australian dollar changed hands at $ 0.769, below levels above the $ 0.775 seen at the end of last week.
– This article has been updated to accurately reflect the movements of the S & P / ASX 200 in Australia.