Asian stocks jump with US stimulus, Japan’s Nikkei up 29 years By Reuters

NEW YORK (Reuters) – Asian stocks soared on Tuesday, with Japanese stocks hitting a 29-year high, in the hope that a long-awaited U.S. pandemic relief package would be expanded and a trade deal Brexit support the investors’ risk appetite.

jumped 0.9% to its highest value since March 1991, while Australian stocks rose 0.7% and futures increased 0.3%.

The US House of Representatives had previously voted to increase stimulus payments to eligible Americans from $ 600 to $ 2,000, sending the measure to the Senate for a vote.

While it is unclear how the measure will fare in the Senate, President Donald Trump’s signature on Sunday of a $ 2.3 trillion pandemic bill, which included payments of $ 600, caused Wall’s actions Street to hit record highs overnight, as optimism about recovery increased. ()

“With Brexit … and the US stimulus deal now in the rearview mirror, there is a sense of relief that we have avoided the respective worst-case scenarios,” said Stephen Innes, chief global market strategist at Axi, a broker.

The firmer demand for riskier assets kept the US dollar, which is often seen as a “safe haven” asset, at a disadvantage. It fell 0.02% against a basket of major currencies.

The dollar’s short sale has been a popular negotiation recently and Reuters calculations based on data released by the Commodity Futures Trading Commission on Monday suggested that this could endure. Dollar short positions increased in the week ending December 21 to $ 26.6 billion, the highest in three months.

The pound sterling fell to $ 1.3462, as investors continued to profit from the currency after last week’s confirmation of a widely expected trade agreement between the UK and the EU.

A weak dollar boosted gold prices, which rose 0.4% to $ 1,878.76 an ounce. [GOL/]

Oil prices rebounded somewhat after falling overnight with concerns that the new travel restrictions due to the COVID-19 pandemic would weaken fuel demand, and how the prospect of increased supply dragged prices. [O/R]

rose 0.48% to $ 47.85 a barrel.