The central business district skyline at Marina Bay waterfront on May 10, 2023 in Singapore.
Nurphoto | Nurphoto | Getty Images
Asia-Pacific markets slid Tuesday, failing to track gains on Wall Street as U.S. benchmarks notched record highs following President-elect Donald Trump’s choice for Treasury secretary.
Australia’s S&P/ASX 200 traded 0.28% lower, after hitting a new all-time closing high on Monday.
Japan’s Nikkei 225 shed 0.82%, while the Topix lost 0.64%. Japan’s service PPI rose 2.9% year-on-year, compared to a 2.8% climb the previous month. The Kospi slid 0.40% in its first hour of trade.
Hong Kong’s Hang Seng index futures were at 19,245, higher than the HSI’s last close of 19,150.99.
Traders in Asia-Pacific will be monitoring the release of Singapore’s manufacturing output for October. Reuters’ analysts expect a 2.2% year-on-year climb, compared to a 9.8% increase in September.
In the U.S., a rally in stocks propelled the Dow Jones Industrial Average, S&P 500, and the Russell 2000 index to reach new highs on Monday as investors cheered Trump’s decision to nominate Scott Bessent, the founder of Key Square Group.
The blue-chip Dow rose 440.06 points, or 0.99%, to 44,736.57. The broad S&P 500 gained 0.3% to end at 5,987.37. Both hit new all-time highs in the session, while the Dow also notched a fresh record close. The Nasdaq Composite ticked up 0.27%, finishing the day at 19,054.84.
—CNBC’s Alex Harring and Hakyung Kim contributed to this report.
