Asian markets bounce but Trump throws stimulus grenade

Asian markets bounce but Trump throws stimulus grenade

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Hong Kong: After two days of selling, Asian markets mostly rose on Wednesday, and after Donald Trump called the new stimulus package “regrettable” and told U.S. legislators to revise the package, investors initially seemed not Confused.

Recently, with the surge in virus cases around the world, stocks and oil prices have been hit, the United Kingdom reported a new more easily spread virus strain, forcing governments to implement strict restrictions and lockdown measures during the holiday season to contain the disease.

The worrisome peak of infections overshadowed the vaccine and news launched earlier this week, and Congress finally finalized an economic rescue plan worth about 900 billion US dollars.

“So much of the good news of the vaccine had been already digested and even the stimulus bill that people had largely anticipated,” Joanne Feeney of Advisors Capital Management said on Bloomberg TV.

“So some of the flattening of the market just reflects how much has already been built into the market from those two good sources of news.”

However, Hong Kong, Tokyo, Shanghai, Sydney, Seoul, Taipei and Jakarta were all in positive territory after recent losses, while Wellington extended gains. Singapore and Manila fell.

However, after Trump’s opposition to this week’s stimulus deal broke out, New York stock futures fell.

The outgoing president criticized the plan as insufficient to accommodate American families and told Congress to reconsider it, increasing the possibility of postponing it until after Christmas.

He said in a video message posted on Twitter: “This is indeed a shame.” He said: “I am asking Congress to amend this bill to increase the ridiculousness of as low as $600 to $2,000, or a couple An increase of US$4,000,” he said, referring to the preparation of relief relief.

“I’m also asking Congress to immediately get rid of the wasteful and unnecessary items from this legislation, and just send me a suitable bill.”

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