Asia markets open mostly higher after S&P 500 hits record, South Korea pushes fresh highs
Melbourne, Australia
Kieran Stone | Moment | Getty Images
Asia-Pacific markets opened mostly higher on Wednesday, tracking gains on Wall Street after the S&P 500 closed at a record high.
The broad market index gained 0.41% to finish at 6,978.60, supported by gains in Apple and Microsoft.
Asian markets mostly extended Tuesday’s gains, with Australia’s S&P/ASX 200 climbing 0.12% and on pace for a fourth straight winning session.
Australia will release its fourth-quarter inflation numbers later today, with headline inflation expected to come in at 3.6%, its highest level in six quarters.
South Korea’s Kospi and Kosdaq continued to push fresh records, gaining 1.27% and 1.55% respectively in early trade
However, Japan’s Nikkei 225 slumped 0.79%, while the Topix fell 0.97%.
Late Tuesday, the yen strengthened to its highest level in almost three months against the dollar, touching a low of 152.08 amid intervention expectations swirling around the currency.
Hong Kong Hang Seng index futures were at 27,186, also higher than the HSI’s last close of 27,126.95
Overnight in the U.S., the Nasdaq Composite climbed 0.91%, while the Dow Jones Industrial Average broke ranks, losing 408.99 points, or 0.83%, and settling at 49,003.4.
S&P 500 futures were near the flatline ahead of the Federal Reserve’s interest rate decision and earnings reports from major tech companies.
The central bank is widely expected to keep its benchmark interest rate steady at a target range of 3.5% to 3.75%, but traders will be seeking hints on longer-term changes to monetary policy.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
