Tokyo, Japan
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Asia-Pacific markets traded mixed in spite of gains on Wall Street as investors looked toward a slate of megacap technology earnings to keep propelling the Nasdaq Composite to new heights this week.
Japan’s Nikkei 225 added 0.62%, extending gains from the day before. This comes after the ruling Liberal Democratic Party lost its parliamentary majority after voters cast their ballots on Sunday to determine the control of the lower house, marking the first time since 2009 that Japan’s ruling coalition lost its majority. Japan’s jobless rate for the month of September came in at 2.4%, compared to 2.5% the previous month. The reading is also slightly lower than Reuters’ forecast of a 2.5% climb.
The Kospi lost 0.51% while the Kosdaq slipped 0.41%. Australia’s S&P/ASX 200 was 0.36% higher.
Hong Kong’s Hang Seng Index is up 1.21%, while China’s CSI 300 added 0.17% in its first hour of trade.
Traders in Asia will also monitor Singapore’s unemployment data.
Overnight in the U.S., stocks jumped. The S&P 500 gained 0.27% to close at 5,823.52. The Dow Jones Industrial Average advanced 273.17 points, or 0.65%, to end at 42,387.57. The Nasdaq rose 0.26%, closing at 18,567.19.
This week marks the busiest in the third-quarter earnings reporting season, and is the final week leading up to the U.S. presidential election on Nov. 5 and the Federal Reserve’s policy decision on Nov. 7.
Five of the Magnificent Seven companies — Alphabet, Microsoft, Meta Platforms, Amazon, and Apple — are set to announce their latest financial results this week. Traders will also be eyeing the October jobs report due Friday.
—CNBC’s Hakyung Kim and Tanaya Macheel contributed to this report.
