Most Asia markets rise on hopes for post-election US stimulus

Hong Kong, Oct 8 (AFP/APP):Asian markets mostly rose Thursday as investors tracked a rally on Wall Street, with investors growing increasingly confident Joe Biden and Democrats will win the White House and both houses of Congress, paving the way for a huge new stimulus. Donald Trump’s decision to break off talks for a second rescue package gave global traders a massive jolt this week but his call soon after for targeted help, including $1,200 handouts for Americans and help for small businesses, lifted hopes for some sort of deal. But analysts said that while the end of the talks came as a blow, there are broad expectations that a new spending bill will be passed at some point as the economic recovery stutters and the coronavirus sees fresh spikes around the world. “The market realises that whoever wins, more than likely Biden now, there is going to be significant stimulus and additional infrastructure spending,” Andy Brenner, head of international fixed income at National Alliance, said in a note. And the odds on a Biden win are shortening, with opinion polls putting him well ahead nationally and enjoying leads in battleground states such as Florida, where polling website FiveThirtyEight says Trump … Continue reading Most Asia markets rise on hopes for post-election US stimulus