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Asian Markets Mostly Higher at Start of US Inauguration Day

A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, Jan. 20, 2021. Asian shares were mostly higher Wednesday, ahead of Joe Biden's inauguration as president, ending President Donald Trump’s four-year term. Japan's…

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.