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Home / Business / Asian stock markets are stimulated by US stimulus policies, Japan’s Nikkei Index hits 29-year high

Asian stock markets are stimulated by US stimulus policies, Japan’s Nikkei Index hits 29-year high




© Reuters.A man wearing a protective mask walks in front of a stock quote board outside a Tokyo brokerage house

NEW YORK (Reuters)-Asian stocks jumped on Tuesday and Japanese stocks hit a 29-year high as the market expected the long-awaited US pandemic rescue plan to expand, and the Brexit trade agreement supported investors’ risk appetite.

It jumped 0.9% to its highest level since March 1

991, while the Australian stock market rose 0.7% and futures rose 0.3%.

Earlier, the US House of Representatives voted to raise the stimulus subsidy for eligible Americans from $600 to $2,000 and submit the measure to the Senate for voting.

Although it is not yet clear how the measure will work in the Senate, President Donald Trump signed a 2.3 trillion dollar pandemic bill on Sunday that includes a payment of $600, which puts the Wall Street stock market in It set a new all-time high overnight because it enhanced people’s optimism about the economic outlook. recovery. ()

Stephen Innes, chief global market strategist at Axi, said: “With Brexit… and the US stimulus package in the rearview mirror, we are relieved that we have avoided our respective worst-case scenarios. “broker.

The strong demand for high-risk assets has put the U.S. dollar (often regarded as a “safe-haven asset”) back in the second line. The dollar fell 0.02% against a basket of major currencies.

Shorting the U.S. dollar has been a popular trade recently, and calculations by Reuters based on data released by the Commodity Futures Trading Commission on Monday indicate that this situation may continue. As of the week of December 21, the US dollar short position surged to 26.6 billion US dollars, a three-month high.

The pound fell to 1.3462 against the U.S. dollar as investors continued to profit in currency after confirming the widely expected trade agreement between the UK and Europe last week.

The weakness of the US dollar pushed gold prices up 0.4% to US$1,878.76 per ounce. [GOL/]

After falling overnight, oil prices rebounded due to concerns that new travel restrictions after the COVID-19 pandemic will weaken fuel demand and the prospect of increased supply drags down oil prices. [O/R]

It rose 0.48% to 47.85 US dollars per barrel.

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