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Asia-Pacific stocks mixed as Japan ushers in new leadership
Mount Fuji and the Shinjuku skyline in Tokyo, Japan, on Friday, Feb. 14, 2025. Photographer: Kiyoshi Ota/Bloomberg via Getty Images
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Asia-Pacific markets were set to open mostly lower Tuesday as investors focused on Japan’s new government and key export data out of Tokyo.
Japan’s new prime minister, Sanae Takaichi, and her new cabinet were inaugurated Monday night.
Among her appointees were defense minister Shinjiro Koizumi — her rival in the ruling Liberal Democratic Party’s leadership race — as well as Satsuki Katayama, Japan’s first female finance minister.
Japan markets were poised for a higher open, with the futures contract in Chicago at 49,505 and its counterpart in Osaka at 49,380 compared to the previous close of 49,316.06.
On Tuesday, the Nikkei briefly set a new intraday record of 49,945.95, before retreating after Takaichi won the parliamentary vote to become Prime Minister.
Australia’s S&P/ASX 200 started the day down 0.65%, pulling back from earlier gains on Tuesday after rare earth stocks briefly rallied on news of a U.S.-Australia critical minerals agreement.
Hong Kong Hang Seng index futures were at 25,919, lower than the last close of 26,027.55.
Overnight in the U.S., the Dow Jones Industrial Average set a new closing record, boosted by strong earnings reports from companies such as Coca-Cola and 3M, while the S&P 500 was relatively unchanged.
The 30-stock index gained 0.47% to close at 46,924.74, and briefly topped 47,000 during the session.
The broad market S&P 500 closed just above the flatline at 6,735.35, while the tech-heavy Nasdaq Composite lagged, falling 0.16% to 22,953.67.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
