People watch the first sunrise of the new year from a bridge overlooking the city skyline in Seoul on January 1, 2024.
Jung Yeon-je | Afp | Getty Images
Asia-Pacific market were mixed there, even as S&P 500 and the Nasdaq Composite hit new highs on Wall Street overnight.
Traders in Asia will be looking for the Federal Reserve’s decision on Wednesday stateside, which will come after the May inflation report was released earlier the same day.
Investors will analyze the Fed’s forecast for the timing and frequency of rate cuts. The market is now pricing in just one rate cut this year, coming in November, according to the CME FedWatch Tool.
Asia-Pacific markets such as Australia, Hong Kong, mainland China and Taiwan will return to trading on Tuesday, after being closed for public holidays the day before.
At Taiwan weight index rose to a record high as it gained 0.46%, supported by technology and utility stocks.
Japan Nikkei 225 Full results to climb 0.42%, while the Topix based on the angle was 0.37% up.
South Korea Kospi rebound from losses there, gained 0.57%, while the small cap Kosdaq was 0.73% more.
On the other hand, Hong Kong Hang Seng Index plunged 1.16% at the open, while mainland China’s CSI 300 index was 0.51% lower.
Australia’s S&P/ASX 200 fell 1.27%.
The broad S&P 500 index rose 0.26%, closing at 5,360.79, while the Nasdaq Composite gained 0.35% to 17,192.53.
The Dow Jones Industrial Average added 0.18%, tracking gains in the S&P and Nasdaq.
— CNBC’s Lisa Kailai Han and Sarah Min contributed to this report.
