Asian markets track Wall Street’s rally on hopes for stimulus

Asian markets rose in Asia on Thursday after Wall Street rallied on expectations of more stimulus for the economy, despite chaotic scenes in Washington as Trump supporters stormed the U.S. Capitol.

“Investors that have concerns today should probably check some of those concerns,” Levitt said. “The first year of this administration is going to be about providing as much support as possible to an economic recovery.”

Asian Markets

• Hong Kong’s Hang Seng index HSI, -0.30% sank 0.1%  while the Nikkei 225 NIK, +1.60% index in Tokyo gained 1.8%.
• The Shanghai Composite SHCOMP, +0.71% inched higher while the smaller-cap Shenzhen Composite 399106, +0.21% retreated.
• South Korea’s Kospi 180721, +2.14% climbed 2.4% and the
• S&P/ASX 200 XJO, +1.59% in Australia advanced 1.6%. Stocks fell in Malaysia FBMKLCI, -0.07% but rose in Singapore STI, 1.50%, Taiwan Y9999, +1.54% and Indonesia JAKIDX, +1.28%.

Oil Price

• In other trading, U.S. benchmark crude oil CLG21, 0.81% gained 29 cents to $50.92 per barrel in electronic trading on the New York Mercantile Exchange. It rose 70 cents to $50.63 per barrel on Wednesday.
• Brent crude BRNH21, 0.64% gained 25 cents to $54.55 per barrel.

Currency

The U.S. dollar USDJPY, 0.32% rose to 103.08 Japanese yen from 103.01 yen on Wednesday.