Asian Markets Mostly Higher at Start of US Inauguration Day

Asian markets are mostly higher Wednesday just hours before Joe Biden is inaugurated as the next president of the United States. Australia’s benchmark S&P/ASX index and Shanghai’s Composite index both finished 0.4% higher.  South Korea’s KOSPI index rose 0.7%.  In late afternoon trading, the Hang Seng index in Hong Kong is up more than one percent, and Mumbai’s Sensex has gained 0.5%.  The Nikkei index in Japan slipped 0.3%, while Taiwan’s TSEC index dropped 0.4%. In commodities trading, gold is selling at $1,853.40, up 0.7%.  U.S. crude oil has also risen 0.7%, selling at $53.39 per barrel, and Brent crude oil is selling at $56.26, up 0.6%.   The heavy trading occurs after U.S. Treasury Secretary nominee Janet Yellen urged support for the incoming administration’s $1.9 trillion pandemic economic rescue plan during her Senate confirmation hearing Tuesday.   All three major U.S. indices are trending higher in futures trading. 

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