News
Japan parliamentary vote, Australia rare earth shares rise
TOKYO, JAPAN – JULY 27: Pedestrians and shoppers walk through the Akihabara area on July 27, 2023 in Tokyo, Japan. Japan’s core consumer price index climbed by 3.3% in June, outpacing the US figure for the first time in eight years as the Bank of Japan holds its monetary policy meeting on July 27 and 28. (Photo by Tomohiro Ohsumi/Getty Images)
Tomohiro Ohsumi | Getty Images News | Getty Images
Asia-Pacific markets were set to open higher Tuesday, tracking Wall Street gains led by a rally in Apple shares.
Japan’s benchmark Nikkei 225 index was set for a higher open, with its futures contract in Chicago trading at 49,855, and its counterpart in Osaka at 49,610, against the index’s Monday close of 49,185.5.
Investors await Japan’s parliamentary vote, which is likely to see Sanae Takaichi become the country’s next prime minister, after the right-wing opposition Japan Innovation Party said Monday it was ready to back her premiership.
Australia’s ASX/S&P 200 rose 0.50%. Shares of the country’s rare earth companies rose after Prime Minister Anthony Albanese and U.S. President Donald Trump signed a critical minerals agreement Tuesday, aimed at countering China’s dominance.
Australia’s Lynas Rare Earths added 3.8%, Iluka Resources jumped nearly 6%, Pilbara Minerals rose 4.7%. VHM skyrocketed over 30%, while Northern Minerals soared nearly 15%.
Futures for Hong Kong’s Hang Seng Index pointed to a higher open, trading at 26,232, against the index’s previous close of 25,858.83.
Indian markets are closed for a holiday.
U.S. equity futures were little changed in early Asian hours, ahead of a busy earnings week from big-name companies and inflation data.
Overnight, the three key benchmarks in the U.S. rose on a rally in Apple shares after Loop Capital upgraded it to buy from hold.
The Dow Jones Industrial Average closed 515.97 points, or 1.12%, higher at 46,706.58. The S&P 500 also climbed 1.07% to settle at 6,735.13, while the Nasdaq Composite advanced 1.37% to settle at 22,990.54.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
