Japan parliamentary vote, Australia rare earth shares rise
TOKYO, JAPAN – JULY 27: Pedestrians and shoppers walk in the Akihabara district on July 27, 2023 in Tokyo, Japan. With the Bank of Japan holding a monetary policy meeting on July 27 and 28, Japan’s core consumer price index increased by 3.3% in June, surpassing the US figure for the first time in eight years. (Photo: Tomohiro Ohsumi/Getty Images)
Tomohiro Ohsumi | Getty Images News | Getty Images
Japan’s reference point Nikkei 225 It rose more than 1% to a new record high of 49,739.76 after closing at an all-time high on Monday. Topix also reached a record high, up 0.48%.
Broader Asia-Pacific markets also opened higher, tracking Wall Street’s bullish-led gains in 2017. Apple shares.
Investors are bracing for Japan’s parliamentary elections, which will see Sanae Takaichi become the country’s next prime minister, after the right-wing opposition Japan Innovation Party said on Monday it was ready to support her as prime minister.
Australia’s ASX/S&P 200 rose 0.50%. Shares of rare earth companies in the country rose after Prime Minister Anthony Albanese and US President Donald Trump signed A critical mining deal aimed at countering China’s dominance was struck on Tuesday.
Australia’s Lynas Rare Earths was up 3.8%, Iluka Resources was up nearly 6%, Pilbara Minerals was up 4.7%. VHM soared over 30%, while Northern Minerals rose almost 15%.
South Korea’s Kospi index rose by 1.57%, while the small-cap Kosdaq gained 0.52%.
Hong Kong futures Hang Seng Index It was traded at 26,232 compared to the index’s previous close of 25,858.83, indicating a higher opening.
Indian markets are closed for holidays.
U.S. stock futures were little changed in early trading in Asia ahead of a busy week of earnings for major companies and inflation data.
Three key benchmarks in the US rose overnight, driven by a rise in Apple shares after Loop Capital upgraded its shares to buy from hold.
The Dow Jones Industrial Average closed at 46,706.58, up 515.97 points, or 1.12%. The S&P 500 index increased by 1.07 percent to 6,735.13 points, and the Nasdaq Composite index increased by 1.37 percent to 22,990.54 points.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
