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Asian inventory growth boosted by “very productive” US stimulus negotiations by Investing.com

© Reuters.

Gina Lee

Investing.com – Asia-Pacific stocks rose Tuesday morning, alongside US stocks as discussions were held on further US stimulus measures. Concerns about volatile trading have receded, and advances in COVID-19 vaccination have also boosted investor sentiment.

Japan was up 0.96% by 10:01 pm (Greenwich Mean Time 3: 1 am) and South Korea was up 2.30%.

In Australia, it increased by 1.28%. The Reserve Bank of Australia will take over the policy decision later that day.

Hong Kong rose 1.60%. China rose 0.42% and rose 1.23%.

Investor sentiment increased after a two-hour meeting between US President Joe Biden and a group of 10 Republican Senators who proposed a miniaturized COVID-19 stimulus package on Monday.

However, Biden insists on maintaining the $ 1.9 trillion price tag proposed in January, stating that the reduced efforts are not sufficient to resolve the COVID-19 crisis.

White House spokeswoman Jen Psaki told the group that Biden “will not delay the task of responding to this urgent crisis and will not settle for a package that is not in time for the moment.”

After the market volatility seen last week also receded, there are concerns that speculative buying could upset stock bulls and increase stock profits.

“We are still positive about equities, recognizing the short-term risk of increased volatility … Our view of a second-half recovery backed by improvements from COVID-19 remains unchanged. The pace of recovery remains the same. The outlook for the world’s two largest economies, the United States and China, remains bright, although it may vary by region, “Taihoi, chief asset management Asian market strategist at JP Morgan (NYSE :), told Bloomberg.

There was positive news at the forefront of the vaccine, and the number of Americans initially vaccinated with the COVID-19 vaccine exceeded the number tested positive for the virus. Across the Atlantic, German Chancellor Angela Merkel has vowed to vaccinate all Germans by the end of September, even if the new shot has not been approved by then.

The profit season continues, Alibaba (NYSE :) Group Holding Ltd (HK :) and GlaxoSmithKlinePLC (LON :) announced their results throughout the week.

The Bank of England will take over the policy decision on Thursday.

On the data side, the US January Payroll Report will be released on Friday. The report, which includes, provides investors with the first glimpse of recruitment in 2021.

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Asian inventory growth boosted by “very productive” US stimulus negotiations by Investing.com

https://www.investing.com/news/stock-market-news/asian-stocks-up-boosted-by-very-productive-us-stimulus-talks-2405958 Asian inventory growth boosted by “very productive” US stimulus negotiations by Investing.com

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