Asia-Pacific markets open higher after key Wall Street benchmarks hit record highs

2 weeks ago 10

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The port at Busan, South Korea, in 2020. South Korea and Japan are especially dependent on shipping lanes that traverse the South China Sea, linking them to the Indian Ocean, Persian Gulf and beyond.

SeongJoon Cho | Bloomberg | Getty Images

Asia-Pacific markets opened higher Tuesday, following gains on Wall Street that saw the Dow Jones Industrial Average and the S&P 500Nasdaq Composite reach new record highs.

Investors assessed trade data out of South Korea, which showed a trade surplus of $6.7 billion in September, up from $3.7 billion in the previous month.

South Korea's Kospi opened 0.05% higher, while the small-cap Kosdaq was up 0.4%.

Australia's S&P/ASX 200 rose 0.75% in early trading.

Japan's Nikkei 225 opened 1.2% higher, while the broad-based Topix rose 0.9%.

Hong Kong's Hang Seng index futures were at 21,115, higher than the HSI's last close of 21,092.87.

On Wall Street, the broad market S&P climbed 0.77% to 5,859.85, while the 30-stock Dow advanced 201.36 points to 43,065.22, ending the session above the 43,000 mark for the first time.

The Nasdaq Composite added 0.87%, closing at 18,502.69.

— CNBC's Yun Li and Lisa Kailai Han contributed to this report.

Netflix and more: Jefferies names stocks set to benefit from a $60 billion anime boom

The popularity of anime — or animation produced in Japan — has boomed in recent years, and several global entertainment companies are leading in, according to Jefferies.

"Many companies are now positioning anime-related businesses as core to their growth strategies," the investment bank's analysts said in an Oct. 9 equity research note.

Looking ahead, they expect the market to double from $31.2 billion in 2023 to $60.1 billion by 2030, based on estimates from Grand View Research.

CNBC Pro subscribers can click here to read more on three stocks Jefferies expects to benefit.

— Amala Balakrishner

S&P 500 soars to new record close

The S&P 500 notched another record close Monday afternoon.

The broad market index rose 0.77% and finished at 5,859.85. The Dow Jones Industrial Average added 0.47%, or 201.36 points, settling at 43,065.22. The Nasdaq Composite climbed 0.87% and closed at 18,502.69.

— Lisa Kailai Han

Why inflation risks are rising, according to Deutsche Bank

It is still too soon to dismiss rising inflation risks, according to Deutsche Bank macro strategist Henry Allen.

In a Monday note, Allen shared five reasons why he believes inflation risks are still mounting:

Major central banks have adopted greater-than-expected levels of near-term monetary easing.
Commodity prices have increased on the back of China's stimulus announcements and Middle East tensions.
U.S. data is strong and shows the economy will likely avoid a sharper downturn.
September's CPI report came in stronger than expected.
Money supply growth is accelerating.

— Lisa Kailai Han