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· Asian stocks hit record high, as earnings, stimulus boost recovery hopes

Asian stocks hit a record high on Wednesday, as upbeat earnings, hopes of a large U.S. fiscal stimulus and progress in vaccinations fanned optimism about a global recovery from the pandemic.

MSCI’s ex-Japan Asian shares index rose 0.8%, rising above its January peak to reach its highest level ever.

In mainland China’s CSI300 rose 1.3% to a 13-year high and the Shanghai Composite hit a five-year high on the last trading day before the week-long Lunar New Year holidays.

Japan’s Nikkei eked out gains of 0.1% while e-mini futures for the U.S. S&P 500 rose 0.35%.

Corporate earnings have been beating expectations in many places including the United States and Japan.

In the latest example, shares of Lyft Inc rose as much as 11.8% while Twitter Inc climbed 3.5% in aftermarket trading on their latest quarterly results.

Although U.S. President Joe Biden’s stimulus package faces opposition from Republicans, his fellow Democrats last week approved a budget outline that will allow them to muscle the stimulus through in the coming weeks without Republican support

· Japan stocks higher at close of trade; Nikkei 225 up 0.19%

Japan stocks were higher after the close on Wednesday, as gains in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares higher.

At the close in Tokyo, the Nikkei 225 added 0.19% to hit a new 5-year high.

· Singapore’s DBS fourth-quarter profit slides 33% on loan losses, but is upbeat on outlook