World

Japan stocks set to rise as Wall Street sails to record highs

SINGAPORE — Stocks in Japan were set for a higher start on Tuesday following overnight gains on Wall Street that sent the major averages to record highs.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 26,910 while its counterpart in Osaka was at 26,880. That compared against the Nikkei 225’s last close at 26,854.03.

Meanwhile, shares in Australia rose in early trade following their return from a Monday holiday, with the S&P/ASX 200 up about 0.8%.

Overnight on Wall Street, the Dow Jones Industrial Average gained 0.7% to close at 30,403.97. The S&P 500 rose 0.9% to finish its trading day at 3,735.36 while the Nasdaq Composite closed 0.7% higher at 12,899.42.

The gains stateside came after U.S. President Donald Trump signed a $900 billion coronavirus relief package into law, with the measure including a direct payment of $600 to most Americans. Trump had previously demanded a $2,000 direct payment days before the signing. The House voted Monday to increase the second round of federal direct payments to $2,000, leaving it up to the GOP-controlled Senate.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.288 following an earlier slip to levels around 90.

The Japanese yen traded at 103.69 per dollar after weakening yesterday from around the 103.4 level against the greenback. The Australian dollar changed hands at $0.7578, having slipped from levels above $0.76 yesterday.

— CNBC’s Jacob Pramuk contributed to this report.


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