Such Asian stocks rose to record highs on Wednesday following the hearing of the US Treasury Secretary-designate. Janet Yellen has announced extensive aid to get the US economy going again after the pandemic. The MSCI index for Asia-Pacific stocks excluding Japan rose 0.95 percent to an all-time high at the start of trading. The Hong Kong Hang Seng rose by 1.0 percent, while Australian values grew by 0.6 percent to a previously unattained high. The Japanese leading index Nikkei fell, however – due to profit-taking – by 0.45 percent.
In the US, the change of government will likely go smoothly and without problems, said Yasutada Suzuki from Sumitomo Mitsui Bank. That is another reason for supporting the markets worldwide.
More: Prices on US stock exchanges rise before Biden’s inauguration
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