Stocks in Asia-Pacific rise ahead of U.S. election, Australian central bank rate decision
Stocks in Asia-Pacific were higher on Tuesday morning as investors await the Reserve Bank of Australia’s interest rate decision.
In morning trade, the S&P/ASX 200 in Australia gained 1.26%, with shares of major miners such as BHP and Rio Tinto up more than 1% each.
South Korea’s Kospi also added 0.89% in early trade.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.31% higher.
Markets in Japan are closed on Tuesday for a holiday.
Investors will likely be focusing Tuesday on the Reserve Bank of Australia’s interest rate decision, set to be out at around 11:30 a.m. HK/SIN.
Ahead of that announcement, the Australian dollar changed hands at $0.7053, compared to levels below $0.702 seen yesterday.
The upcoming U.S. presidential election between incumbent Donald Trump and former Vice President Joe Biden will also weigh on investor sentiment.
Reference: CNBC
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