By Alden Bentley

A look at the day ahead in Asian markets.

The Trump trade carried Wall Street to fresh records on

Monday but election-week momentum faded in holiday thinned

markets that don't leave Asia much to cue off aside from

disappointment in China's stimulus proposals.

Except, perhaps, in the cryptosphere, where Donald Trump's

sweeping win over Democratic candidate Vice President Kamala

Harris kept activity lively, thanks to the president-elect's

pre-election bitcoin cheerleading.

The largest digital currency soared above $85,000 for the first

time, carrying associated shares along with it.

Treasury markets, being closed for the U.S. Veterans Day

holiday, offered no signals.

Fed funds futures however showed traders see a 65% chance

that the Fed will follow last week's quarter point cut with

another at its Dec. 17-18 meeting, even as easing expectations

for next year were dialed back.

The three main U.S. indexes climbed

further into uncharted territory in early trading, although the

benchmark S&P 500 had difficulty holding above the 6,000

threshold that it first traded above on Friday.

The stock market loves the Trump proposals for tax cuts and

deregulation, especially the Russell 2000 small cap index

, which rose about 1.5% to within 1% of the record high

from November 2021.

Bonds have been less enamored of Trump's promise to impose

import tariffs that many economists see as likely to raise

inflation and kick off retaliation from trade partners.

The 30-year Treasury yield hit its highest

since the end of May last week after the election, while the

yield on the 10-year note rose to its highest

since early July and the two-year hit its highest

since late July.

The dollar was still buoyed by higher yields, rising against

the yuan to its highest since early August at 7.2332

yuan. Dollar/yen rose 0.7% to 153.78.

Several stocks that gained following the election continued

their upward trajectory. Tesla jumped almost 8% after

touching $1 trillion in market value on Friday for the first

time since 2022. Elon Musk, Tesla's billionaire CEO, has close

ties to Trump and his companies look positioned to benefit under

the new administration.

U.S. listed cryptocurrency stocks surged, with crypto

exchange Coinbase Global ( COIN ) jumping more than 20% and

iShares Bitcoin Trust up more than 13%. Crypto miner

Riot Platforms ( RIOT ) surged 17%, while MicroStrategy ( MSTR )

, one of bitcoin's biggest corporate backers, gained

28%.

Beijing's proposed 10 trillion yuan ($1.4 trillion) package

to shore up local government financing, announced late on

Friday, did not offer a direct boost to its flagging economy.

Thus investor disappointment overshadowed the record run Wall

Street closed out with last week.

MSCI's broadest index of Asia-Pacific shares outside Japan

closed down 1% on Monday after Hong Kong's Hang

Seng sank 1.45%. Chinese blue chips rose 0.66%

higher after an early fall and Tokyo's Nikkei ended

0.08% higher.

Here are key developments that could provide more direction

to markets on Tuesday:

- India CPI (Oct)

- India Industrial output (Sept)

- South Korea Unemployment (Oct)