SINGAPORE – Stocks in Japan are expected to trade higher on Tuesday’s opening, as investors await comments from US President-elect Joe Biden’s nominee for Treasury Secretary Janet Yellen.
Futures pointed to a higher opening for Japanese equities. The Nikkei futures contract in Chicago was 28,380, while its counterpart in Osaka was 28,320. That compared to the last close of the Nikkei 225 at 28,242.21.
Shares in Australia were up slightly during early trading, with the S & P / ASX 200 up 28,242.21.
Former Federal Reserve Chairman Yellen will tell the Senate Treasury Committee Tuesday that the government “needs to act big time” with its next Covid aid package, according to Reuters, quoting a prepared opening statement before its hearing before the committee.
As for the coronavirus, the head of the World Health Organization warned Monday of a “catastrophic moral failure” as a result of unfair vaccine rollouts.
Markets in the United States were closed on Monday due to a public holiday.
Currencies
The US dollar index, which tracks the greenback against a basket of its peers, was at 90,779 – higher than the levels below 90.4 seen last week.
The Japanese yen was at 103.68 per dollar, still stronger from levels above 104.1 versus the greenback from the previous trading week. The Australian dollar changed hands at USD 0.7682 from levels above USD 0.775 seen late last week.