Asian stocks gain as markets watch for Biden stimulus plan
Asian stocks advanced Tuesday as investors watched for details of President-elect Joe Biden’s promised economic stimulus plan. Shanghai, Tokyo and Hong Kong were higher. Seoul declined while Sydney swung between gains and losses. Overnight, Wall Street declined following a string of record-setting gains.
- The Shanghai Composite Index rose 0.8% to 3,559.86.
- The Nikkei 225 in Tokyo added 0.1% to 28,178.56.
- The Hang Seng in Hong Kong gained 0.5% to 28,037.51.
- The Kospi in Seoul shed 2.9% to 3,056.42.
- The S&P-ASX 200 in Sydney was unchanged at midday at 6,697.40.
- New Zealand and Singapore retreated while Jakarta advanced.
- In energy markets, benchmark U.S. crude lost 9 cents to $52.16 per barrel in electronic trading on the New York Mercantile Exchange.
- The contract rose 1 cent on Monday to $52.25.
- Brent crude, used to price international oils, shed 10 cents to $55.56 per barrel in London. It fell 33 cents the previous session to $55.66 a barrel.
- The dollar rose to 104.30 yen from Monday’s 104.16. The euro fell to $1.2141 from $1.2163.