Asian Stocks high as Trump resumes office after three days

Syed Umarullah HussainiWeb Editor

06th Oct, 2020. 09:25 am
Asian Stocks

Stocks in Asian Markets advanced on Tuesday after the United States President Donald Trump was discharged from hospital and returned to White House.

According to the details, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.71%, while the Hong Kong index climbed to 0.88%.

Meanwhile, Japan’s Nikkei also added 0.41%. S&P 500 futures rose 0.08% after the best daily gain on the S&P 500 index in a month overnight.

Australia’s ASX 200 was more downcasted, up 0.17%, ahead of a central bank meeting, and the government’s budget later in the day.

Oil Prices

Brent crude futures were up 16 cents per barrel (0.39%) from October 5 settle to $41.45 per barrel.

Business Pundits are of the view that the bullishness in the market is in hopes that the US Congress will ratify a new stimulus package, which will invigorate the stagnant US economic recovery and boost the demand outlook for oil.

Trump Returns to White House

Let it be known that President of the United States Donald Trump returned to White House on Monday and resumed his office after being treated for three days in Walter Reed Hospital.

As the President returned home, a supply of medical gowns and other essential equipment been secured for use by his health and security teams and potentially residence staffers.

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