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·         Asian stocks climb to record highs on Biden stimulus hopes

 

Asian stocks scaled to record highs on Thursday as investors were hopeful the incoming Biden administration will be able to secure passage of a massive new stimulus package to cushion the economic damage of the COVID-19 pandemic.

 

European shares were set to motor on, with pan-region Euro Stoxx 50 futures up 0.39%, German DAX futures 0.4% higher and FTSE futures up 0.6%.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan touched record highs and was last up 0.92%, with markets across the region posting gains.

 

·         Nikkei closes at 30-year high as Biden inauguration sparks optimism

 

Japanese shares hit their highest close in 30 years, taking cues from solid overnight performances on Wall Street, on investor optimism over upbeat corporate earnings and that new U.S. administration’s massive stimulus package will bolster growth.

 

Nikkei share average gained 0.82% to 28,756.86, the highest close since August 1990, while the broader Topix inched up 0.6% to 1,860.64.

 

Asian stocks touched all-time highs as investors hoped for more economic stimulus from the Biden administration to offset damage wreaked by the COVID-19 pandemic.

 

·         China stocks close higher on U.S. stimulus hopes

 

China stocks settled higher on Thursday, in line with other Asian markets on hopes of more stimulus from U.S. President Joe Biden’s administration to cushion the economic damage wreaked by the COVID-19 pandemic.

 

The blue-chip CSI300 index rose 1.6% to 5,564.97, while the Shanghai Composite Index added 1.1% to 3,621.26.

·         European markets open higher amid optimism as Biden’s presidency begins

 

European stocks opened higher Thursday amid optimism as President Joe Biden takes office.

 

The pan-European Stoxx 600 climbed 0.7% in early trade, with autos climbing 1.3% to lead gains as all sectors and major bourses entered positive territory.

 

Global markets are buoyant at the start of Joe Biden’s presidency and U.S. equities rose to record highs on Wednesday as the latest batch of strong corporate earnings rolled in, and as Biden was sworn in as commander in chief.

 

Reference: CNBC, Reuters