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Asia-Pacific Stocks Rise Ahead of Australian Reserve Bank’s Decision on Interest Rates

On Wall Street, the major stock indexes rose on Monday evening, as Congress remained deadlocked over the next coronavirus pandemic legislation.

Asia-Pacific stocks were higher in Tuesday morning trade, according to CNBC News.

In Japan, the Nikkei 225 added 1.04 percent, while the Topix index gained 1.34 percent. Overall, Japanese major markets were higher on Tuesday morning.

In South Korea, the Kospi also advanced 1.03 percent.

In Australia, the S&P/ASX 200 went 1.01 percent up. Investors are now awaiting the Australian Reserve Bank’s decision on interest rates, as coronavirus-induced measures have been reinforced in the state of Victoria, where virus cases have been on the rise.

Overall in the region, the MSCI Asia ex-Japan index was 0.32 percent higher.

Meanwhile, the US stock market saw gains on Monday night, with the Dow Jones Industrial Average rising 0.9 percent to close at 236.08 points. The S&P 500 also added 0.7 percent to close at 3,294.61, reaching its highest closing level since 21 February. The tech-heavy Nasdaq Composite surged 1.5 percent to finish its trading at 10,902.80, an all-time high.

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