Mon, 01 Mar 2021

Asian Markets Rebound Tuesday as World Awaits New US Admin

Voice of America
19 Jan 2021, 21:05 GMT+10

Asian markets are mostly higher Tuesday on the eve of the inauguration of Joe Biden as the next U.S. president.

The Nikkei index in Tokyo climbed 1.3%. Sydney's S&P/ASX index ended 1.1% higher. Seoul's KOSPI index soared 2.6%, and the TSEC in Taipei closed up 1.7%.

In late afternoon trading, Hong Kong's Hang Seng index is 1.8% higher, while Mumbai's Sensex has risen 1.2%.

Shanghai's Composite index finished the trading day down 0.8%.

Janet Yellen, Biden's nominee for Treasury Secretary, is expected to tell the Senate Finance Committee in her confirmation hearing Tuesday that more federal aid will be needed to help the nation's economy recover from the COVID-19 pandemic.

In commodities trading, gold is selling at $1,838.00, up 0.4%. U.S. crude oil is up 0.1%, selling at $52.41 per barrel, and Brent crude is selling at $55.13, up 0.5%

After taking the day off Monday in observance of the annual Martin Luther King, Jr. federal holiday, all three major U.S. indices are trending higher in futures trading.

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