SINGAPORE – Stocks in Japan looked poised for a higher start on Tuesday, after overnight gains that saw the Dow Jones Industrial Average and Standard & Poor’s 500 close at record levels on their first trading day of 2022.
The Nikkei Futures Index in Chicago was at 29035. This compares to the last close of the Nikkei 225 Index at 28791.71. Markets in Japan are set to start their trading year on Tuesday after Monday’s holiday.
In Australia, the S&P/ASX 200 rose 0.86% in morning trade.
Overnight, the Dow Jones Industrial Average jumped 246.76 points to 36585.06 while the S&P 500 gained 0.64% to 4,796.56. The Nasdaq Composite rose 1.2% to 15,832.80.
Chinese economic data
Looking ahead, a special survey on Chinese factory activity in December is due to be published on Tuesday, with the Caixin/Market manufacturing PMI expected at 9:45 AM HKT/SIN.
The official December manufacturing PMI, released last week, showed an acceleration in the growth of Chinese factory activity that month. The official December manufacturing PMI came in at 50.3 from November’s reading of 50.1.
The PMI readings are sequential and represent expansion or contraction on a monthly basis.
The US Dollar Index, which measures the greenback against a basket of peers, was at 96.226. This compares to the sub-96 levels seen recently.
The Japanese yen was trading at 115.34 against the dollar, still weaker than the levels below 114.9 seen against the dollar last week. The Australian dollar was at $0.7196, below the levels above $0.726 seen yesterday.