SINGAPORE — Stocks in Asia-Pacific traded higher Tuesday morning as investors await remarks from U.S. President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen.
In Japan, the Nikkei 225 edged 0.96% higher while the Topix index advanced 0.46%. South Korea's Kospi rose 0.11%.
Shares in Australia also saw gains, with the S&P/ASX 200 up about 1%.
MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.13% higher.
Former Federal Reserve Chair Yellen is set to tell the Senate Finance Committee on Tuesday that the government must "act big" with its next Covid relief package, according to Reuters, which cited a prepared opening statement for her hearing before the committee.
Meanwhile, the Wall Street Journal reported that Yellen is expected to make clear that the U.S. doesn't seek a weaker dollar.
On the coronavirus front, the head of the World Health Organization warned Monday of a "catastrophic moral failure" due to unfair vaccine rollouts.
Markets stateside were closed on Monday for a holiday.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.765 — higher then levels below 90.4 seen last week.
The Japanese yen was at 103.68 per dollar, still stronger then levels above 104.1 against the greenback seen in the previous trading week. The Australian dollar changed hands at $0.769, off levels above $0.775 seen late last week.
— This article was updated to accurately reflect the moves of the S&P/ASX 200 in Australia.
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