Asian markets closed higher amid renewed optimism on fresh US stimulus. Japanese Nikkei 225 broke the losing streak of three days to close 434.19 points or 1.60% higher at 27,490.13. Korean Kospi ended 63.47 points higher or 2.14%.
In mainland China, the Shanghai Stock Exchange Composite Index advanced by 25.33poinst or 0.71%, at 3,576.2, while the Shenzhen Stock Exchange Composite Index traded 168.79 points or 1.11% higher at 15,356.4. Chinese stocks rose despite US extending a ban on Tencent & Alibaba.
SGX Nifty also traded 0.37% higher while Australian ASX 200 closed 1.59% higher.
Hong Kong’s Hang Seng was the only market to trade in the red. The Hang Seng Index fell by 143.78 points or 0.52% at 27,548.52 points.
US markets hit fresh all-time highs on Wednesday as Dow Jones scales 31000 intraday with Democrats winning 50% of the Congress votes. Investors now feel stimulus package to be enlarged by new President elect Joe Biden. Nasdaq, however, saw profit booking as technology stocks closed in the red.
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