SINGAPORE – Shares in Asia-Pacific traded higher on Tuesday morning as investors await statements from US President-elect Joe Biden’s candidacy for Treasury Secretary Janet Yellen.
In Japan, the Nikkei 225 rose 0.96% more, while the Topix index rose 0.46%. Kospi of South Korea rose 0.11%.
Shares in Australia also rose, with the S & P / ASX 200 about 1%.
MSCI’s broader Asia-Pacific stock index outside Japan traded 0.13% higher.
Former Federal Reserve Chairman Yellen will have to tell the Senate Finance Committee on Tuesday that the government must act with its next Covid relief package, according to Reuters, which quoted a statement from opening prepared for its hearing before the committee.
Meanwhile, the Wall Street Journal reported that Yellen is expected to make it clear that the U.S. is not looking for a weaker dollar.
On the coronavirus front, the head of the World Health Organization warned on Monday of a “catastrophic moral failure” due to the unfair injection of vaccines.
State markets were closed Monday for holidays.
Coins
The US dollar index, which tracks the greenback against a basket of its peers, was at 90.765, above last week’s levels below 90.4.
The Japanese yen was at 103.68 per dollar, even stronger than the levels above 104.1 against the green dollar seen in the previous trading week. The Australian dollar changed hands at $ 0.769, below the levels above the $ 0.775 seen late last week.
– This article was updated to accurately reflect the movements of the S & P / ASX 200 in Australia.