Asia-Pacific markets set to trade cautiously following losses on Wall Street

Asia-Pacific markets set to trade cautiously following losses on Wall Street

People walk past an electronic board displaying the Nikkei 225 index in Tokyo on November 10, 2020.

SINGAPORE “” Asia-Pacific markets rose Wednesday as major indexes in Australia, Japan and South Korea notched gains.

Australia's ASX 200 advanced 0.6%, with most sectors trading higher. But major banking stocks came under pressure as shares of ANZ declined 0.21% and the National Australia Bank lower by 0.08%. Westpac was slightly above the flatline, while Commonwealth Bank shares advanced 0.51%.

In Japan, the Nikkei 225 rose 0.35% while the Topix was up 0.6%.

South Korea's Kospi added 0.47%. Samsung Electronics shares dipped 0.35% after the chip and smartphone maker issued earnings guidance for the first three months of 2021.

Samsung said it estimated operating profit for the quarter at 9.3 trillion Korean won ($8.3 billion), up 44% from a year ago. The company did not give detailed breakdown, which are due at the end of this month.

Wednesday's session follows overnight losses on Wall Street, where U.S. stocks fell from record levels.

"US equities softened while European indices outperformed after being closed on Monday. News that half the European population will be able to be vaccinated by June was a shot in the arm for the markets," analysts at ANZ