HONG KONG, Aug 6 — Asian markets mostly rose today building on a two-day rally, with nervous investors keeping an eye on stimulus talks in Washington, while China-US tensions continued to weigh on confidence. And while there were hopes over the development of a coronavirus vaccine, the rapid...
Pedestrians look at a quotation board displaying the share price numbers on the Tokyo Stock Exchange in Tokyo March 12, 2020. — AFP pic
All three main indexes on Wall Street ended with gains yesterday — the Nasdaq at another record — on bets US lawmakers will eventually reach a deal on another much-needed stimulus for the world’s top economy. Still, there is agreement that they will eventually have to compromise at some point and Republican Senate Majority Leader Mitch McConnell said next week’s recess could be put off so a deal can be reached.
“US Treasury Secretary Mnuchin remarked that while differences remain, at least there was an agreement to set a timeline. So the story continues to be about when the deal will be agreed, rather than if.”The need for an agreement was laid bare with data showing the US added a below-forecast 167,000 private-sector jobs in July, while a broadly positive report on business activity was clouded by a weak employment component.
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