Asian markets are reversing stimulus-based highs

The wholesale stock of Asia Pacific outside the MSCI fell 0.2% to 722.49. But It touched an all-time high of 727.31 on Thursday. ?

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Asian stocks were at record highs as investors withdrew some money after a recent rally in the hope that incoming President Joe Biden’s massive U.S. economic stimulus plan will help mitigate the impact of COVID-19.?

“The market has been very strong since the US presidency yesterday, and the US lead is a bit volatile,” said Shane Oliver, chief economist at AMP Capital, an investment manager. But Sydney. So

“There is good news. I suspect it was a fairly flat day.

The wholesale stock of Asia Pacific outside the MSCI fell 0.2% to 722.49. But It touched an all-time high of 727.31 on Thursday. “There is good news. I suspect it was a fairly flat day. ”

The index has risen 3.7% so far this week, reflecting strong expectations that the U.S. stimulus package will ease and that US stimulus will continue to support global assets. So

Republicans in the U.S. Congress have indicated they are willing to work with President Joe Biden on a $ 1.9 trillion? But U.S. fiscal stimulus plan, a priority of his administration.

Democrats ruled the U.S. Senate on Wednesday, although they still need Republican support to pass the program. So

Australia’s benchmark index fell 0.2% and Japan’s Nikkei was down 0.4%. But The Chinese stock started the back foot with the blue-chip CSI300 index falling 0.1% and Hong Kong’s Hang Seng falling 0.1%.

Both the S&P 500 and the Nasdaq Compact were at record highs overnight on Wall Street. So

The Dow Jones Industrial Average fell into negative territory in the last minutes of trading.

In the money markets, but the US dollar gained against a basket of currencies after three straight days of losses. It has fallen 0.7% so far this week. So

The dollar has fallen 0.25% so far this week against the Japanese yen.

The trade-sensitive Australian dollar rose 0.6% this week, while the euro rose 0.7%. ?

Despite warnings from European Central Bank President Christine Lagarde of a new rise in COVID-19? infections and long-term restrictions that could challenge the but region’s economic outlook, the single currency has flattened. So,

On Thursday, the IMF kept interest rates stable and promised to provide more support to the economy if needed. but

The recent slide in Greenback has led investors to invest in high-yielding currencies on optimism about a rapid economic recovery driven by the massive stimulus in the US.

Popular cryptocurrency Bitcoin fell to a three-week low on Friday amid concerns over gains and additional regulations. but,

Oil prices fell after an unexpected build-up in U.S. crude. Brent was down 23 cents at $ 55.86 and U.S. crude was down 26 cents at $ 52.86.

Spot gold fell 0.2 percent to 1,865.5 an ounce.

More:- https://indianexpress.com/

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