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Asia stocks set to trade higher after major Wall Street indexes hit record closing highs overnight

SINGAPORE — Shares in Asia-Pacific looked set for a positive start Tuesday following overnight gains on Wall Street that sent the S&P 500 and Nasdaq Composite to record closing highs.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,305 while its counterpart in Osaka was at 29,240. That compared against the Nikkei 225’s last close at 29,161.80.

Australian stocks also looked poised to rise, with the SPI futures contract at 7,368.0, as compared with the S&P/ASX 200’s last close at 7,312.30.

Looking ahead, minutes from the Reserve Bank of Australia’s June monetary policy meeting are set to be released at 9:30 a.m. HK/SIN.

Overnight on Wall Street, the Nasdaq Composite gained 0.74% to an all-time closing high of 14,174.14. The S&P 500 also cruised to another record close, rising 0.18% to 4,255.15. The Dow Jones Industrial Average lagged, dipping 85.85 points to 34,393.75.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.522 — stronger than levels below 90.3 seen late last week.

The Japanese yen traded at 110.01 per dollar following a recent weakening from below 109.8 against the greenback. The Australian dollar changed hands at $0.7713, off levels above $0.774 seen last week.

Here’s a look at what’s on tap:

  • Australia: Minutes from Reserve Bank of Australia’s June monetary policy meeting at 9:30 a.m. HK/SIN

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