Asia-Pacific markets rise after Wall Street’s jump; yen hovers near 149-levels

Abigail Ng

Shares in the Asia-Pacific traded higher on Tuesday after Wall Street’s rally overnight.

The Nikkei 225 rose 1.46% and the Topix added 1.23%. Japan’s yen touched 149.08 against the dollar and was last trading near 148.90.

South Korea’s Kospi was 1.13% higher and the Kosdaq was 2.16% up. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.46%.

In Australia, the S&P/ASX 200 gained 1.27%. The Reserve Bank of Australia is expected to release its meeting minutes for its October meeting.

China was due to report gross domestic product data, but has delayed that and a slew of economic releases for the third quarter, according to an updated calendar posted on the National Bureau of Statistics’ website. The unusual move comes as the Communist Party of China holds its 20th National Congress.

TICKER	COMPANY	NAME	PRICE	CHANGE	%CHANGE
.N225	Nikkei 225 Index	*NIKKEI	27116.61	340.82	1.27
.HSI	Hang Seng Index	*HSI	16612.9	0	0
.AXJO	S&P/ASX 200	*ASX 200	6751.9	87.5	1.31
.SSEC	Shanghai	*SHANGHAI	3084.94	0	0
.KS11	KOSPI Index	*KOSPI	2240.91	21.2	0.96
.FTFCNBCA	CNBC 100 ASIA IDX	*CNBC 100	6886.08	44.53	0.65

Overnight in the U.S., major indexes jumped following some better-than-expected earnings reports.

The Dow Jones Industrial Average added 550.99 points, or 1.86%, to close at 30,185.82. The S&P 500 popped 2.65% to 3,677.95. The tech heavy Nasdaq Composite jumped 3.43% for its best day since July, finishing at 10,675.80.

— CNBC’s Jesse Pound and Yun Li contributed to this report.

New Zealand inflation data for the third quarter comes in hotter than expected

New Zealand’s consumer prices rose 7.2% in the third quarter compared to the same period last year, much higher than the 6.6% predicted by analysts in a Reuters poll.

Prices rose 2.2% from the second quarter, driven by food, housing and utilities, Stats NZ said.

“The main driver for the 7.2 percent annual inflation to the September 2022 quarter was housing and household utilities due to rising prices for construction, rentals for housing, and local authority rates,” the statement added.

Compared to the previous quarter, annual inflation eased very slightly from the 7.3% reported in July, which was a 32-year high.

— Abigail Ng

Monday’s rally saw all sectors close more than 10% from 52-week highs

During Monday’s rally, all three major indices climbed and the Nasdaq posted its best day since July. It also closed more than 34% from its 52-week high, while the S&P 500 and the Dow Jones Industrial Average were 23% and 18% from their 52-week highs, respectively.

All sectors also closed more than 10% from their 52-week highs, led by communication services that was up more than 40% from the key level. Tech, consumer discretionary and real estate were all more than 32% from 52-week highs, while financials and materials were more than 22% from 52-week highs.

—Carmen Reinicke

Stocks close higher, with Nasdaq jumping more than 3%

Stocks finished the day up solidly higher, with the Nasdaq Composite leading the way with a gain of more than 3%. The Dow added more than 500 points to close back above the 30,000 level.

— Jesse Pound

Treasury yields trim losses

U.S. Treasury yields have rebounded from their lows of the session. The 2-year Treasury yield is now down about 5 basis points to 4.45%, while the 10-year yield is unchanged just above 4%. Yields move opposite of price, and a basis point is equal to 0.01 percentage points.

Notably, the rebound for yields has not caused a major move in the equity markets, where the Nasdaq is still up more than 3% for the session.

— Jesse Pound

Source : CNBC