A worker at a motorcycle supply store in Taipei, Taiwan, watches a television broadcast covering the November 5, 2024, United States presidential election.
Annabelle Chronicles | Getty Images News | Getty Images
SINGAPORE – Wall Street surged overnight on Wednesday, with Asia-Pacific stocks mostly higher ahead of the results of the U.S. presidential election.
Japanese Nikkei 225 Index led the gains, rising 2.2%, while the Topix gained 1.9%.
The Bank of Japan announced in September Monetary Policy Meeting Minutesshowing that members agreed that the central bank should continue to raise interest rates if the economy and price growth are in line with targets.
South Korea’s Kospi was flat and the Kosdaq rose 0.25%.
Hong Kong Hang Seng Index The CSI 300 Index opened down 1.4%, while the CSI 300 Index rose 0.8%.
China’s five-day meeting of the National People’s Congress (NPC) continues on Wednesday, with investors watching for news on additional stimulus and policies aimed at stabilizing the economy.
The governor of the People’s Bank of China said at a meeting on Tuesday that the central bank planned to maintain loose monetary policy, According to official media reports.
Australia’s S&P/ASX 200 index rose 0.8%.
Overnight in America, S&P 500 Index The Nasdaq Index rose 1.23% to close at 5,782.76 points; the Nasdaq Index rose 1.43% to close at 18,439.17 points. The Dow Jones Industrial Average rose 427.28 points, or 1.02%, to close at 42,221.88 points.
The race between former President Donald Trump and Vice President Kamala Harris is expected to be fierce. The focus will also be on congressional polls, given that a sweep by either party could affect spending and tax policy.
Follow CNBC’s 2024 election live blog here.
—CNBC’s Jesse Pond and Samantha Subin contributed to this report.
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