Markets

Trump’s return to the White House: Asian stocks hit two-week high

D.he Asian stock markets climbed to a two-week high on Tuesday after the return of American President Donald Trump to the White House. Trump had returned from the hospital to the government seat in Washington on Monday (local time) on the fourth day after his admission because of a Covid-19 infection. He “feels really good,” he said. The treating doctors had previously stated in front of the press that the 74-year-old was “not quite off the hook yet”. However, he meets the criteria for dismissal and could just as easily be further treated in the White House.

The Nikkei Index, which comprises 225 values, was 0.5 percent higher at 23,426 points. The broader Topix index rose 0.3 percent to stand at 1643 points.

The Shanghai Stock Exchange was closed for a public holiday. The MSCI index for Asian stocks outside of Japan rose 1.2 percent.

Investors are also placing their hopes on the continuation of talks about a new Corona aid package. In addition to Trump’s health, “there is also some market attention on whether or not the US Congress will pass the Additional Incentive Bill,” said Tai Hui, chief strategist for the Asian market at J.P. Morgan. “If we see any kind of stimulus, I think the market will take a positive view of it as much of the key support from the preliminary round has expired,” he said.

In Asian foreign exchange trading, the dollar lost 0.1 percent to 105.65 yen and stagnated at 6.7898 yuan. In relation to the Swiss currency, it was quoted 0.1 percent lower at 0.9146 francs. At the same time, the euro rose 0.1 percent to 1.1791 dollars and was barely changed at 1.0786 francs. The pound sterling gained 0.1 percent to $ 1.2987.

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