Investing.com – Asia Pacific stocks were mostly up on Wednesday morning, taking their cues from U.S. shares. The Dow Jones Industrial Average rose above 30,000 for the first time during the previous session as optimism over a possible COVID-19 vaccine and clarity over the U.S. presidential transition boosted risk appetite.
Japan’s Nikkei 225 jumped 1.60% by 10:29 PM ET (2:29 AM GMT). South Korea’s KOSPI was up 0.55%, with the Bank of Korea to hand down its policy decision on Thursday. In Australia, the ASX 200 gained 0.84%.
Hong Kong’s Hang Seng Index rose 1.51%. Chief Executive Carrie Lam is due to deliver her annual policy address later in the day, with the city facing tightened social distancing measures as it battles a fourth wave of COVID-19 cases. 80 new daily infections were recorded on Tuesday.
In China, the Shanghai Composite inched up 0.07%, while the Shenzhen Component inched down 0.46%.
News that former Federal Reserve Chairman Janet Yellen could be tapped as the next Secretary of the Treasury also cheered markets. If nominated, Yellen is likely to focus on tackling growing economic inequality.
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