U.S. election, China NPC, BOJ meeting minutes

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U.S. election, China NPC, BOJ meeting minutes

A screen displays the Nikkei 225 Stock Average figure on the trading floor at the Nomura Securities Co. headquarters in Tokyo, Japan, on Jan. 11, 2024. 

Bloomberg | Bloomberg | Getty Images

SINGAPORE — Asia-Pacific markets opened higher Wednesday after Wall Street surged overnight ahead of the U.S. presidential election results.

Japan’s Nikkei 225 opened up 0.7%, while the Topix gained 0.4%.

The Bank of Japan’s monetary policy meeting minutes will be released later in the day, which could give insights on where the members stand on the bank’s policy path.

South Korea’s Kospi was up 0.2% in early trading, while the Kosdaq gained 0.7%.

Hong Kong’s Hang Seng index futures were at 20,962, lower than the HSI’s last close of 21,006.97.

A five-day meeting of China’s National People’s Congress (NPC) will continue on Tuesday, with investors watching for information on additional stimulus and polices aimed at stabilizing the economy.

Australia’s S&P/ASX 200 rose 0.7%.

Overnight in the U.S. the S&P 500 index gained 1.23% to close at 5,782.76, while the Nasdaq Composite advanced 1.43% to 18,439.17. The Dow Jones Industrial Average climbed 427.28 points, or 1.02%, to settle at 42,221.88.

The race between former President Donald Trump and Vice President Kamala Harris is expected to be tight. Focus will also be on Congressional polling, given that a sweep by either party could impact spending and tax policy.

Follow CNBC’s 2024 election live blog here.

— CNBC’s Jesse Pound and Samantha Subin contributed to this report.

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