Asian stocks mixed after Wall St rebounds from uncertainty
Hong Kong swung between gains and losses.On Wall Street, the benchmark SP 500 index gained less than 0.1per cent, recovering from the previous days decline.Analysts suggested investors focused on President-elect Joe Bidens economic stimulus plans after he takes office next week.PTI | Beijing | Updated: 13-01-2021 10:52 IST | Created: 13-01-2021 10:52 IST
Asian stock markets were mixed Wednesday after Wall Street rebounded, shrugging off uncertainty about a possible new attempt to impeach President Donald Trump over last week's attack on the U.S. Capitol.
On Wall Street, the benchmark S&P 500 index gained less than 0.1per cent, recovering from the previous day's decline.
Analysts suggested investors focused on President-elect Joe Biden's economic stimulus plans after he takes office next week. Democrats in Congress are discussing possibly impeaching Trump for encouraging supporters who attacked the Capitol, but the president has taken few official actions since then.
New Zealand declined while Southeast Asian markets advanced.
Investor hopes have been boosted by the rollout of coronavirus vaccines. Markets have risen despite a spike in case numbers in the United States and some other countries.
In the United States, those hopes have been encouraged by the shift in control of the Senate from Republicans to Biden's Democratic Party. That might reduce the likelihood of political opposition if Biden introduces a more ambitious stimulus plan. He has said he will release details Thursday.
On Wall Street, the S&P 500 rose to 3,801.19. The Dow Jones Industrial Average gained 0.2per cent to 31,068.69. The Nasdaq composite added 0.3per cent to 13,072.43.
In energy markets, benchmark U.S. crude rose 61 cents to USD53.82 per barrel in electronic trading on the New York Mercantile Exchange.
The contract rose 96 cents on Tuesday to USD53.21. Brent crude, used to price international oils, gained 72 cents to USD57.30 per barrel in London. It gained 92 cents the previous session to USD56.58.
The dollar declined to 103.59 yen from Tuesday's 103.83. The euro rose to USD1.2215 from USD1.2201.
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