Asian equities track US records as stimulus bets roll in

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Hong Kong

Asian markets continued to push higher Friday following another record-breaking performance on Wall Street as investors set their sights on a further huge US stimulus after Democrats took control of Congress.
The prospect of another massive splurge in the world’s biggest economy helped divert attention from soaring Covid-19 infection and death rates that have forced governments to once again lock down as they try to quickly roll out vaccinations. After Wednesday’s extraordinary scenes in Washington that saw a pro-Donald Trump mob storm the Capitol complex, the president said he would allow for a smooth transition of power to Joe Biden and later called for “healing and reconciliation”.While the violence shocked the world, investors brushed it off and analysts said Trump’s comments would provide a little more reassurance. Traders are now looking forward to hearing what Democrats propose to do with their new powers.—APP