Asian markets extend gains after Wall St record, eyes on US data

Asian markets rise on growing hopes for US stimulus


Hong Kong: Optimism that U.S. congressmen will eventually pass a new stimulus package ignited Asian markets on Monday. The White House raised offers, and Donald Trump insisted that the Republicans hope to reach an agreement.

Before the stock market rose, Wall Street showed a strong upward momentum, hoping to inject new cash into the world’s top economies, thereby covering up the surge of virus infections. These viruses have forced some governments to retake containment measures and targeted lockdown measures.

Last week, when the president canceled negotiations, investors were sent to a roller coaster.

Last Friday, he raised the offer, proposed a $1.8 trillion package, and even said he was in favor of a larger package.

Although the White House plan is $400 billion less than the plan proposed by the Democrats, this move makes people optimistic about reaching an agreement.

Analysts say that because Joe Biden is far ahead in the polls, traders are increasingly believing that he will easily win next month’s election-to avoid Trump’s uncertainty about the election results-the Democrats will serve both at the same time. House member.

That expectation continues to support equities, even while the talks remain jammed up with Senate Majority Leader Mitch McConnell saying there was not enough time to complete the talks before the vote, while Democrat House Leader Nancy Pelosi said they were at an impasse.

“Markets that once feared a Democratic sweep now appear to be hoping that the Democrats do take control of the Senate, with the polling leads for Biden boosting optimism for greater stimulus,” said Ben Emons, a strategist at Medley Global Advisors. 

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