Hopes for a US stimulus package are driving Asia stock exchanges to record highs

Stock Exchange in Japan

The markets in Asia are recording highs.

(Photo: dpa)

Sydney Asian stocks hit record highs on Wednesday. Positive news about further Covid-19 vaccines as well as a new push by the US government to get another long-awaited corona aid package off the ground let investors take hold.

“While there is still hope that a new stimulus package for the US will be agreed soon, it is less likely that a Brexit deal will come about as negotiators on both sides acknowledge that an agreement may not come about,” analysts at ANZ said Bank. “The next 24 hours will be crucial and likely lead to market volatility, depending on what has been agreed or not.”

The Nikkei Index, which comprises 225 values, was 1.2 percent higher at 26,772 points, which is the highest it has been in 29 years. The broader Topix index rose 1.1 percent to stand at 1778 points.

The Shanghai stock exchange was 0.1 percent up. The index of the most important companies in Shanghai and Shenzen lost 0.1 percent. The MSCI index for Asian stocks outside of Japan barely moved.

In Asian foreign exchange trading, the dollar was almost unchanged at 104.12 yen, down 0.1 percent to 6.5253 yuan. In relation to the Swiss currency, it was quoted 0.1 percent lower at 0.8878 francs. In parallel, the euro rose 0.2 percent to $ 1.2127 and rose 0.1 percent to 1.0770 francs. The pound sterling gained 0.2 percent to $ 1.3378.

More: The Mainz company Biontech and US partner Pfizer have cleared an important hurdle in the emergency approval of their corona vaccine. Their papers are in demand with US investors.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.