TOKYO/NEW YORK- Asian stocks rose on Tuesday, tracking an advance by Wall Street’s main indexes to record highs, as investors looked to key central bank meetings this week, starting with the US Federal Reserve.
An index of the region’s share markets excluding Japan strengthened 0.7 percent, led by a 1.2 percent jump in Australia’s benchmark S&P/ASX 200 index.
Japan’s Nikkei 225 gained 0.6 percent to just below the closely watched 30,000 mark, while the broader Topix added 0.5 percent.
China’s blue chip CSI 300 index climbed 0.7 percent, and Hong Kong’s Hang Seng gained 0.7 percent.
On Monday, the S&P 500 and Dow Jones Industrial Average both soared on gains in travel stocks as mass vaccinations in the United States and congressional approval of a $1.9 trillion aid bill fueled investor optimism.
E-mini futures for the S&P 500 edged up 0.06 percent.
Investors are focused on the Fed’s twoday policy meeting, which will conclude on Wednesday, as bond yields have surged this year on investors betting central bankers will need to raise rates sooner than they have so far signaled to contain inflation. Fed policymakers are expected to forecast that the US economy will grow in 2021 by the fastest rate in decades.
The Bank of England also meets this week on Thursday, while the Bank of Japan wraps up a two-day gathering on Friday.
“Markets are likely to be in a holding pattern ahead of this…heavy central bank-laden week,” write analysts at TD Securities.
On Wall Street, the Dow Jones Industrial Average rose 174.82 points, or 0.53 percent, to 32,953.46, the S&P 500 gained 25.6 points, or 0.65 percent, to 3,968.94 and the Nasdaq Composite added 139.84 points, or 1.05 percent, to 13,459.71.