Asian shares follow Wall Street gains as U.S. stimulus brings new hopes

25.03.2020 - Kulakov Vladimir
Asian shares follow Wall Street gains as U.S. stimulus brings new hopes

Asian shares continued to rally on Wednesday with Wall Street recovering from major losses as U.S. Congress drew near to rolling out a $2 trillion stimulus package in a response to aid a virus-hit economy.

MSCI’s broadest index of Pacific Asia outside of Japan advanced by 1.7%. Meanwhile, Japan’s Nikkei soared by 4.8%.  Shares in South Korea gained 3.5% while Australian shares jumped up to 3.5%.

MSCI on Tuesday showed an 8.39% surge, marking it as the biggest gain in a day since the 2008 financial crisis. In Asia, it inched up by an additional 0.8% on Wednesday.

The Dow Jones Industrial Average also climbed up by 11.37%, a record single-day peak since 1993.

However, the U.S. S&P500 index remained at 27% below its record highs in February.

The U.S. Congress said on Tuesday they were closing in on an agreement for a $2 trillion stimulus package in order to soften the economic impact of the coronavirus pandemic. However, there were no details about their availability to vote on a bill.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue
×

Help with deposit?