Asian markets struggle after Biden unveils huge stimulus plan


A man walks past at an electronic stock board showing Japan's Nikkei 225 and other Asian indexes at a securities firm in Tokyo Friday, Jan. 15, 2021. Asian shares fell Friday after a worse-than-expected U.S. jobs report and a late slide in several Big Tech stocks left major indexes lower on Wall Street. - AP

HONG KONG, Jan 15, 2021 (AFP): Joe Biden's US$1.9 trillion stimulus proposal was met with a shrug in Asia Friday as observers said the massive spending spree had been largely factored into valuations, while profit-taking weighed on markets at the end of a broadly healthy week.

Reassurances from Federal Reserve boss Jerome Powell that record-low interest rates and loose monetary policy would remain in place for some time removed some lingering angst on trading floors, while there remains plenty of optimism about the long-term economic outlook.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Asian MArkets , Fell , US , Stimulus , Not Much Help

   

Next In Aseanplus News

Hong Kong rental yields hit 12.5-year high on talent-scheme influx, lower rates
HKUST can draw talent to Hong Kong for third medical school despite inexperience: adviser
Europe expert Cui Hongjian on why China, EU face worst-case scenario as Trump returns
Brunei and Singapore sign MoU on beef exports
Famous Chinese singer Zhang Mi battles cancer for third time, faces surgery to cut half her tongue
Lawmakers weigh Vietnam Airlines share issuance�to raise US$866mil
Exiled former PM Yingluck to return to Thailand, undergo legal process
US to cut Intel’s US$8.5bil chips grant as tech giant struggles
South Korean opposition leader cleared of forcing witness to commit perjury
Prabowo's first state visit highlight Indonesia's global role

Others Also Read