· · Asia-Pacific stocks slightly higher; Trump calls U.S. Covid-19 relief package unsuitable
Stocks in Asia-Pacific were higher in Wednesday trade following new remarks from U.S. President Donald Trump surrounding the new Covid-19 relief package.
South Korea’s Kospi jumped 1% while in Japan, the Nikkei 225 rose 0.3% and the Topix index was marginally higher.
Shares in Australia edged higher, with the S&P/ASX 200 gaining 0.59%.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.59%.
· Japan stocks end higher on gains in drugmakers, tech stocks
Japanese stocks ended higher on Wednesday as investors bet the healthcare sector would continue to benefit from a prolonged battle with the coronavirus, while technology shares rose on signs that Apple was eying an entry into electric cars.
The Nikkei 225 Index rose 0.33% to 26,524.79, while the broader Topix rose 0.23% to 1,765.21.
Pharmaceuticals rose 0.9% on hopes for better earnings after Mizuho Securities raised its price target for Daiichi Sankyo Co Ltd and as the spread of a more contagious COVID-19 strain in Britain sparked expectations of longer battle with virus.
The healthcare sector has benefited from the pandemic due to increased demand for treatments, although the virus outbreak’s broader impact on the global economy has kept investors on edge.
· China stocks end higher on optimism over Beijing's pledge to support recovery
China shares ended higher on Wednesday, buoyed by optimism that policymakers would likely avoid sudden credit policy tightening in 2021 to support an economic recovery from the pandemic-induced slump.
At the close, the Shanghai Composite index was up 0.76% at 3,382.32, while the blue-chip CSI300 index was up 0.85%. The smaller Shenzhen index ended up 0.74%.
The start-up board ChiNext Composite index was higher by 1.11% while Shanghai's tech-focused STAR50 index was up 1.32%.
Leading the gains, the new energy vehicle sub-index and the CSI300 industrials index rose 2.1% and 2.3%, respectively.
· European stocks higher on hopes for a Brexit trade deal
European markets opened higher on Wednesday as investors hoped a Brexit trade deal could be reached amid concerns over the approval of a long-delayed U.S. coronavirus stimulus package.
The pan-European Stoxx 600 index was up 0.5% during morning deals, with autos stocks climbing 1.6% to lead the gains. Health care stocks bucked the trend to slip around 0.3%.
Reference: CNBC, Reuters
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