Asian markets rally on Trump health, stimulus hope

Hong Kong, Oct 5 (AFP/APP):Asian markets rallied Monday following reports suggesting Donald Trump’s health is improving after he tested positive for the coronavirus last week, with traders also cheered by signs that US lawmakers were edging towards agreement on a new stimulus package. World equities went into reverse Friday after the White House announced the president and his wife’s diagnosis, which fanned fresh uncertainty just a month before the November 3 election, with some commentators questioning whether the vote would actually take place. But after spending the weekend in hospital — with conflicting reports about the severity of his condition — Trump’s medical team said he had “continued to improve” and could return home as early as Monday. Analysts said the episode could help jolt congressional leaders to up their efforts for a second economic rescue package, with House Speaker Nancy Pelosi saying: “This kind of changes the dynamic.” Trump urged lawmakers reach a deal, tweeting from his hospital bed: “OUR GREAT USA WANTS AND NEEDS A STIMULUS. WORK TOGETHER AND GET IT DONE! Thank You!” Pelosi and Treasury Secretary Steven Mnuchin have held a series of talks aimed at matching up their spending plans, with the Democrats’ $2.2 trillion … Continue reading Asian markets rally on Trump health, stimulus hope