A worker at a motorcycle supply shop in Taipei, Taiwan, watches a television broadcast covering the U.S. Presidential election on November 05, 2024.
Annabelle Chih | Getty Images News | Getty Images
SINGAPORE — Asia-Pacific markets mostly rose Wednesday after Wall Street surged overnight ahead of the U.S. presidential election results.
Japan’s Nikkei 225 was leading gains, up 2.2%, while the Topix rose 1.9%.
The Bank of Japan released September monetary policy meeting minutes, showing members were in agreement that the central bank should keep raising rates if economic and price growth were in line with targets.
South Korea’s Kospi was trading flat, while the Kosdaq gained 0.25%.
Hong Kong’s Hang Seng index fell 1.4% at open, while mainland China’s CSI 300 was up 0.8%.
A five-day meeting of China’s National People’s Congress (NPC) will continue on Wednesday, with investors watching for information on additional stimulus and polices aimed at stabilizing the economy.
In a meeting on Tuesday, the head of the People’s Bank of China said that the central bank planned to maintain supportive monetary policy, according to state media.
Australia’s S&P/ASX 200 rose 0.8%.
Overnight in the U.S., the S&P 500 index gained 1.23% to close at 5,782.76, while the Nasdaq Composite advanced 1.43% to 18,439.17. The Dow Jones Industrial Average climbed 427.28 points, or 1.02%, to settle at 42,221.88.
The race between former President Donald Trump and Vice President Kamala Harris is expected to be tight. Focus will also be on Congressional polling, given that a sweep by either party could impact spending and tax policy.
— CNBC’s Jesse Pound and Samantha Subin contributed to this report.