Asian stock markets rose on Monday after President Donald Trump signed a $ 900 billion economic aid package that helped reduce uncertainty as governments banned travel and trade in response to new coronovirus variants .
Traders returned to work after the three-day Christmas weekend as Shanghai, Tokyo and Hong Kong advanced.
Trump signed the measure, including money for other government functions through September, despite expressing disappointment that the $ 600 payment to the public was not large. His signature helped dispel uncertainty after last-minute objections as trade resettled and global economic activity threatened to curb trade.
In a report, Stephen Ines of Axi said, “The balloon will allow it to better navigate the number of new air pockets seen on the radar in the markets. ”
The Shanghai Composite Index rose 0.4% to 3,410.90 and the Nikkei 225 in Tokyo rose 0.6% to 26,823.45. Hang Seng in Hong Kong rose 0.3% to 26,467.90.
In Seoul, Kospi was 0.7% higher at 2,827.97. Singapore and Jakarta advanced. Australian markets were closed.
On Wall Street, the benchmark S&P 500 index rose 0.4% to 3703.06 on Thursday in its last pre-Christmas trading day. The Dow Jones Industrial Average rose 0.2% to 30,199.87. The Nasdaq Composite climbed 0.3% to 12,804.73.
Investors have been encouraged by the development of coronavirus vaccines but optimism has been fueled by the discovery of new, more infectious variants.
On Monday, South Korea reported its first cases of the new version among three people from Britain. Over the weekend, Japan also reported cases and re-imposed limits on entry into the country by non-resident foreigners. It also stated that both Japanese and foreign residents would be required to show coronovirus test results upon arrival and to observe quarantine.
Among energy markets, benchmark US crude on the New York Mercantile Exchange fell 9 cents to $ 48.14 a barrel. On Thursday, the contract closed 11 cents higher at $ 48.23. Brent crude, the basis of international oil pricing, is 12 cents to $ 51.22 per barrel in London. It rose $ 9 to $ 51.29 per barrel in the previous session.
The dollar was down to 103.55 yen from Friday’s 103.68 yen. The euro rose from $ 1.2180 to $ 1.2216.