Asia Stocks Trade Mostly Higher after Trump Approves the $900Bn Covid-19 Relief Package

Stocks in Asia traded mostly higher in the morning session after U.S. stocks hit a record high last night in response to Trump’s signing a $900 billion coronavirus relief package.

 

As of 9:16 local time in Thailand on Tuesday, Nikkei rose 1.51%, SSEC slipped 0.33%, HSI gained 0.60%, ASX200 increased 0.50% and Kospi dropped 0.08%.

Last night, Dow Jones jumped 204 points or 0.7% to close at 30,403.97 points. S&P 500 closed 0.87% higher and Nasdaq rose 0.74%.

 

The gain in stock markets came after the U.S. President Donald Trump signed a $900 billion coronavirus relief package, which includes a direct payment of $600 to the Americans. Moreover, the House also passed a bill to increase the direct payment to $2,000 as Trump suggested earlier, but the market estimated that the GOP-led Senate is unlikely to approve the measure.