US stimulus package drives Nikkei to its highest level in 30 years

Man in front of stock market scoreboard in Tokyo

The Asian markets are making a year-end spurt.

(Photo: AP)

Tokio, New York Asian investors started trading on Tuesday with the hope of fresh tailwind for the troubled US economy, driven by a new risk appetite. “With Brexit and the US economic agreement in the rearview mirror, it’s a relief that we’ve averted the worst-case scenarios,” said Stephen Innes, chief strategist for global markets at Axi.

The outgoing US President Donald Trump had previously given up his blocking stance on the new $ 900 billion aid package to cushion the consequences of the corona and signed the corresponding law.

The Nikkei index, comprising 225 values, climbed 1.63 percent higher to 21,271 points, the highest level since August 1990. The broader Topix index rose by 1.1 percent and stood at 1807 points.

The Shanghai Stock Exchange was unchanged. The index of the major companies in Shanghai and Shenzen went on the spot. The MSCI index for Asian stocks outside of Japan fell 0.2 percent.

In Asian foreign exchange trading, the dollar lost 0.1 percent to 103.73 yen and was 0.1 percent to 6.5301 yuan. Against the Swiss currency, it was quoted 0.2 percent lower at 0.8870 francs. At the same time, the euro rose 0.2 percent to 1.2233 dollars and was barely changed at 1.0852 francs. The pound sterling gained 0.2 percent to $ 1.3479.

More: Despite Corona, experts are very optimistic about 2021. Why this is so, and where analysts still see favorable entry opportunities.


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