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Asian market recedes from Reuters stimulus-led record high

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© Reuters.File photo: A passerby wearing a protective mask walks in front of the stock price list during the outbreak of coronavirus disease (COVID-19) in Tokyo.

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By Swati Pandy

Sydney (Reuters)-Investors take some money off the table after a recent backlash driven by the hope that President Joe Biden’s massive US economic stimulus will help mitigate the effects of COVID-19. Asian stocks eased from record highs on Friday as they robbed them.

“After the presidential inauguration and preparations in the United States, the market was so strong yesterday that the lead from the United States is a bit messy,” said Shane Oliver, chief economist at AMP (OTC). It was. :) The capital of Sydney.

“There’s a lot of good news. I think it’s a pretty flat day.”

The widest gauge of MSCI’s non-Japanese Asia-Pacific stocks fell 0.2% to 722.49 points, the whiskers from a record high of 727.31 touched on Thursday.

This week’s index rose 3.7%. This reflects the relief of the US change of power and the strong hope that US stimulus will continue to support global wealth.

Republicans in the U.S. Congress have shown they are ready to work with President Joe Biden on the $ 1.9 trillion U.S. fiscal stimulus, which is his administration’s top priority, but some oppose price tags. ..

Democrats dominated the US Senate on Wednesday, but they need Republican support to pass the program.

The Australian Benchmark Index fell 0.2%, but fell 0.4%.

Chinese stocks began with a 0.1% drop in the CSI 300 index for high-end stocks and a 0.1% drop in Hong Kong stocks.

Overnight on Wall Street closed at record highs.

In the last few minutes of the deal, we fell into a negative territory and eased the touch.

In the currency market, the US dollar rose against a basket of currencies after three consecutive days of losses. So far this week has fallen 0.7%.

The dollar has fallen 0.25% against the Japanese yen so far this week.

The commodity-sensitive Australian dollar rose 0.6% this week and the euro rose 0.7% during this period.

The European Central Bank (ECB) Governor Christine Lagarde warned of a new surge in COVID-19 infections and long-term regulatory outlooks that could challenge the region’s economic outlook, but the single currency It was flat.

The ECB, which stabilized interest rates on Thursday, also promised to provide further support to the economy as needed.

Greenback’s recent slide was led by investors investing in high-yielding currencies, based on optimism about a rapid economic recovery driven by a major US stimulus package.

The popular cryptocurrency Bitcoin has fallen to a nearly three-week low due to Friday’s profit taking and concerns about additional regulation.

In commodities, oil prices fell after an unexpected stockpile accumulated. [O/R]

US crude was down 26 cents to $ 52.86, but down 23 cents to $ 55.86 a barrel.

It decreased by 0.2% at 1,865.5 ounces.

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Asian market recedes from Reuters stimulus-led record high

https://www.investing.com/news/economy/asian-markets-set-for-messy-open-after-us-stocks-peak-following-biden-inauguration-2395711 Asian market recedes from Reuters stimulus-led record high

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