HONG KONG (AP): Asian stock markets surged Thursday (Feb 6) after President Donald Trump was acquitted in an impeachment trial and China announced a tariff cut on US imports and aid to businesses reeling from a virus outbreak.
Market benchmarks in Tokyo, Hong Kong and Seoul all rose more than 2%. Shanghai, Sydney and India also advanced.
"To suggest risk appetite continues to ‘creep’ back in favour might be the biggest understatement of the week.” Meanwhile, Chinese state TV said the government will cut value-added taxes and offer low-interest loans to help businesses weather a downturn caused by anti-virus measures that have depressed travel, retail sales and other industries.
On Wall Street, the benchmark S&P 500 index hit a record high, driven by gains for health care and financial stocks. Tesla plunged 17.2% on reports that the shutdowns in China will delay production at its Shanghai factory. The company warned investors last week that production delays in China were possible.
Versace parent Capri Holdings, CoverGirl owner Coty and health insurer Humana all rose after reporting strong earnings.
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