Asian market at 2-week high following Trump's hospital discharge

A woman walks past an electronic board at the Hong Kong stock exchange this morning.

As well as Trump’s health, “there is also some market attention on whether the US Congress will pass the extra stimulus bill”, said Tai Hui, chief Asia market strategist of JP Morgan Asset Management. Australia’s ASX 200 was more subdued, up 0.17%, ahead of a central bank meeting at 3.30pm and the government’s budget later in the day.Asian markets on Monday unwound most of a Friday selloff in the wake of Trump’s Covid-19 diagnosis.

Benchmark 10-year yields hit a more than five-week high, and held just shy of that in Asian morning trading at 0.7634%. The yen hovered at 105.7 per dollar, while the risk-sensitive Australian and New Zealand dollars edged ahead, with the Aussie last up 0.13% at US$0.7191.

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Asian markets rally on Trump's health, stimulus hopeAnalysts say the episode could help jolt congressional leaders to up their efforts for a second economic rescue package. FMTNews
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