Asian markets gain after Trump signs stimulus bill
Shanghai, Tokyo and Hong Kong mostly gained as traders returned to work following a three-day Christmas weekend
Asian markets are posting gains Monday, hours after U.S. President Donald Trump signed a $900 billion economic stimulus package he had seemed to oppose.
Japan’s benchmark Nikkei index finished 0.7% higher. The S&P/ASX index in Australia is up 0.3%, and Taiwan’s TSEC index gained a full one percent.
Shanghai’s Composite earned nearly three-quarters of one point but was unchanged percentage-wise (+0.02). South Korea’s KOSPI index was also unchanged (+0.06) after earning 1.74 points.
In late afternoon trading, Hong Kong’s Hang Seng index is down 0.2%, while the Sensex in Mumbai is up 0.7%.
The $900 billion measure President Trump signed into law Sunday night includes an additional $300 in weekly jobless benefits and $600 in direct payments to millions of individual Americans. The measure is part of a larger package that funds the federal government through September.
In commodities trading, gold is selling at $1,888.60, up 0.2%. U.S. crude oil is selling at $48.46 per barrel, up 0.4%, and Brent crude oil is up 0.3%, selling at $51.48 per barrel.
All three major U.S. indices are trending positively in futures trading.