Most Asia markets track Wall St record as Biden signs stimulus

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Hong Kong

Asian markets mostly rose Friday following more records in New York and Wall Street after Joe Biden finally signed his enormous stimulus into law, while fears over inflation and a possible interest rate hike subsided for now.

Less than two months after taking office, the new president on Thursday put his name to the $1.9 trillion rescue plan that paves the way for a spending splurge that is widely seen as ramping up domestic and global growth.

The package — which includes up to $1,400 in cash handouts, extended unemployment benefits and various other aid programmes — comes as the government pushes ahead with a vaccine drive that will allow lockdowns to be eased and life to return to a semblance of normality.

Biden, in a speech Thursday to mark 12 months since the pandemic hit the country.—Agencies