Asian shares advance as markets await Congress
Asian share markets were seen near their record peaks on Thursday. More so, the dollar hit a two-year low record as oil prices reached the strongest level since March. These followed after investors’ sentiment was fuelled by the prospect of monetary support and fiscal stimulus in the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan tallied an all-time high with a 0.3% increase. Japan’s Nikkei, on the other hand, traded 0.2% higher. While both performed positively, they fluctuated during their latter session as stimulus talks in the United States weighed.
The risk-sensitive Australian and New Zealand dollars reached multi-year peaks, with the euro just lagging a few shades behind. Moreover, U.S. stock futures rallied further. This could be attributed to the markets’ found enthusiasm after U.S. Federal Reserve Chairman Jerome Powell pledged to inject cash until the economy stabilizes.