Asia Stocks Trade Mixed as House Passes $2.2tn Stimulus and Trump’s Aide Tests Positive

Stocks in Asia were mixed on Friday after the House passed a $2.2 trillion Democratic coronavirus stimulus bill Thursday night, while Dow Jones Futures edged lower amid reports that Trump’s aide tested positive for coronavirus.

 

Nikkei resumed its normal trading session on Friday with a slight gain of 0.24% while Australian ASX 200 dropped 0.79%. Stock markets in China, Hong Kong, Taiwan and Korean remained closed on holiday. Dow Jones Futures dropped nearly 100 points ahead of the morning session.

Last night, the House passed a $2.2 trillion Democratic coronavirus stimulus bill even as Democrats and the Trump administration are still struggling to strike a relief deal. However, the stimulus bill likely will not get through the Senate, conquered by the Republicans and become law.

Meanwhile, at the stateside, Hope Hicks, one of the U.S. President Donald Trump’s top aide, tested positive for the coronavirus. The President stated that he and the First Lady just went for a test and might be quarantined.

Hicks travelled with Trump during the previous presidential debate and was seen not wearing a mask. The President also reportedly does not wear a mask very often and always mock his Democratic rival, Joe Biden, for wearing one.

 

Tisco Securities stated that the Thai stock market could see a slight drop over the decline in crude prices last night, in which the plummet would reflect heavily on the energy sector and petrochemical stocks.

The analyst estimated SET Index’s support level at 1,240-1,230 points and a resistance level at 1,251-1,260 points.