Asia-Pacific stocks mixed; Japan reportedly plans to expand state of emergency

The Japanese government is set to expand the state of emergency to more areas on Wednesday, according to local media reports.

Asia-Pacific stocks mixed; Japan reportedly plans to expand state of emergency

SINGAPORE — Stocks in Asia-Pacific were mixed in Wednesday morning trade as investors watch for developments on the coronavirus front.

In Japan, the Nikkei 225 advanced 0.1% while the Topix index dipped 0.1%.

The Japanese government is set to expand the state of emergency to more areas on Wednesday, according to local media reports. That comes after Japanese Prime Minister Yoshihide Suga recently declared a state of emergency in Tokyo and three other areas in a bid to stem a rise in coronavirus infections.

South Korea's Kospi rose 0.22%. Shares in Australia declined, as the S&P/ASX 200 dipped 0.2%.

MSCI's broadest index of Asia-Pacific shares traded 0.16% higher.

Overnight stateside, the Dow Jones Industrial Average advanced 60 points to close at 31,068.69. The Nasdaq Composite ended its trading day day up 0.3% at 13,072.43. The S&P 500 rose fractionally on the day to 3,801.19.

The moves stateside came as the yield on the benchmark 10-year Treasury note briefly traded at 1.187%, its highest level since March. It later eased and was last at 1.1154%. Rates have been rising since Democrats secured majorities in both the House and Senate, opening up the door for additional fiscal stimulus.

Investors will also watch for developments from Washington, with the U.S. House set to push ahead with efforts to remove President Donald Trump from office over his role in sparking last week's deadly attack on the Capitol.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 90.093 after seeing levels above 90.4 earlier in the week.

The Japanese yen traded at 103.71 per dollar, stronger than levels above 104 against the greenback seen earlier this week. The Australian dollar changed hands at $0.7776, having risen from levels below $0.77 touched earlier in the trading week.