Asian shares mostly rose on Tuesday, following Wall Street's record-setting performance last week. Japan's Nikkei 225 index inched closer to its all-time high set in 1989. The Bank of Japan maintained its ultra-lax monetary policy, keeping its benchmark interest rate at minus 0.1%.
Shanghai's Composite index extended its losses, while Hong Kong's Hang Seng jumped 2.5%. Other Asian markets, including South Korea and Australia, also traded higher.
In the US, the S&P 500 and Dow Jones Industrial Average reached new highs on Monday. Macy's, SolarEdge Technologies, and NuStar Energy reported positive news, helping offset losses in Archer Daniels Midland.
This week, several S&P 500 companies will report their quarterly results, including American Airlines, Intel, Procter & Gamble, and Tesla. Analysts predict a dip in overall earnings for the fourth quarter.
The government will release its first estimate of economic growth in the last three months of 2023 on Thursday. Economists expect a slower growth pace, which aligns with the Federal Reserve's goal to curb inflation.
On Friday, the government will release the latest inflation data. Economists anticipate inflation remained steady at 2.6% in December. Treasury yields have eased since October, alleviating pressure on the stock market.
In energy markets, U.S. benchmark crude oil and Brent crude were relatively stable. The euro strengthened against the US dollar.