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.

Asian stocks

  • 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.

Oil Price

  • 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.

Currency

  • The dollar rose to 104.30 yen from Monday’s 104.16. The euro fell to $1.2141 from $1.2163.