A screen shows the Nikkei 225 average stock index number on the trading floor at Nomura Securities' headquarters in Tokyo, Japan, on January 11, 2024.
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Asia-Pacific markets appear poised to rise, tracking gains made by Wall Street as both… Standard & Poor's 500 And the Nasdaq Composite It hit all-time highs on Friday.
Japan Nikki 225 It was also expected to hit a record high, with futures in Chicago and Osaka hitting 40,250 and 40,190 respectively compared to the index's Friday close of 39,910.
Investors will also be watching the “two sessions” meetings in China today.
The “two sessions” refer to the simultaneous annual meetings of China's legislature, the National People's Congress, and the country's top political advisory body, the Chinese People's Political Consultative Conference.
During the meetings, Chinese Premier Li Qiang is expected to present the government work report, which includes details of the economic and political goals of the world's second-largest economy, including the GDP growth goal.
Australia Standard & Poor's/ASX 200 The week started near the flat line, after hitting an all-time closing high of 7745.6 on Friday.
On the other hand, Hong Kong Hang Seng Index It is set to open slightly lower, with futures at 16,586 compared to its last close of 16,589.44.
On the commodity front, oil prices rose slightly West Texas Intermediate Crude oil prices briefly crossed the $80 mark for the first time in four months, as Saudi Arabia and Russia, along with other major OPEC+ producers, said they would extend voluntary crude supply cuts until the end of the second quarter.
On Friday in the US, the tech-heavy Nasdaq advanced 1.14% to 16,274.94, hitting a new high of 16,302.24 during the session. A day ago, the index closed at its first record level since November 2021.
the Standard & Poor's 500 It added 0.80% to 5,137.08 for its first close above the 5,100 threshold, while Dow Jones Industrial Average It rose by 0.23%.
CNBC's Sarah Main and Alex Haring contributed to this report
