Asia-Pacific shares rose; Trump calls US Covid-19 aid package inappropriate

Asia-Pacific shares rose; Trump calls US Covid-19 aid package inappropriate

Shares in the Asia-Pacific region rallied on Wednesday following new remarks by US President Donald Trump on a new package of measures to combat Covid-19.

 

Stocks in mainland China are up on the day, with the Shanghai index up 0.76% to hit 3,382.32 and the Shenzhen component up 0.956% to 14,015.02. The Hong Kong Hang Seng Index is up about 0.7% in the last hour of trading.

 

South Korean Kospi jumped 0.96% to close at 2,759.82, while Japan's Nikkei 225 gained 0.33% to end the day at 26,524.79 and Topix closed at 0.23% higher up to 1765.21.

 

Australian stocks climbed to close, with S & P / ASX 200 up 0.66% to 6,643.10.

 

MSCI, the broadest Asia Pacific stock index outside Japan, up 0.72%.

 

In corporate developments, South Korea's LG Electronics rose 29.61% after the company announced on Wednesday a joint venture agreement with Canadian car supplier Magna International to make components for electric vehicles.

 

Oil prices fell in the afternoon of trading in Asia, with international Brent crude futures falling 1.24% to $ 49.46 a barrel. American oil futures also fell 1.28% to $ 46.42 a barrel.

 

Trump said Tuesday that the $ 900 billion Covid bailout bill passed by the US Congress is an inappropriate “shame.”

 

Although the US President did not threaten to veto the law, he asked for "a suitable invoice or the next administration would have to deliver a package of Covid aid." The latest development could delay the disbursement of funds to Americans who are battling the coronavirus pandemic.

 

The new Covid strain in the UK has also put pressure on investor sentiment around the world in recent days. This is at a time when vaccines are beginning to spread and a resurgence of daily coronavirus infections is being seen in major economies around the world.

 

In the minutes of the October meeting of the Bank of Japan on monetary policy released on Wednesday, one member expressed concern that "deflation could take hold" if Covid-19 spreads again and reduces economic activity, so it "may deserve attention "when conducting monetary policy.

 

Overnight on Wall Street, the S&P 500 posted its third straight session at a loss, down 0.2% to 3,687.26. The Dow Jones Industrial Average fell 200.94 points to close at 30,015.51. The Nasdaq Composite Industrial Average surpassed 12,807.92 and rose 0.5% to close at 12,807.92, a new record.

 

The US Dollar Index, which tracks the dollar against a basket of peers, was last seen at 90.445, after an earlier high of 90.666.

 

The Japanese yen is trading at 103.40 per dollar, still above levels above 104 last week. The Australian dollar changed hands at $ 0.7565 per trading week when it was between $ 0.76 and below $ 0.75.

23 декабря, 2020

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