Asia shares inch up as U.S. stimulus hopes boost sentiment
Asian shares rose on Friday, brushing off a late Wall Street dip as expectations of large U.S. stimulus under President-elect Joe Biden shored up sentiment while oil prices perked up on upbeat Chinese trade figures.
President-elect Biden will unveil a $1.9 trillion stimulus package proposal designed to jump-start the economy and speed up the U.S. response to the coronavirus pandemic, officials said on Thursday.
In Asia, investors held a broadly more optimistic with Australia’s S&P/ASX 200 up 0.2%, Japan’s Nikkei 225 0.3% higher and South Korea’s KOSPI inching up 0.2%.
Meanwhile, shares in Australia were higher, with the S&P/ASX 200 up 0.17%.
MSCI’s broadest index of Asia-Pacific shares traded 0.18% higher.
Hong Kong-listed shares of CNOOC will be monitored by investors on Friday. The U.S. Commerce Department announced Thursday it had added the firm to its entity list, which essentially restricts firms from receiving specific goods made in the U.S.
Reference: CNBC, Reuters
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