Asia Markets Rally Resumes On Stimulus Hopes
Mohammad Ali (@ChaudhryMAli88) Published July 21, 2016 | 01:40 PM
HONG KONG,(UrduPoint / Pakistan Point News - 21st july,2016) - Asian markets mostly rose Thursday following a fresh Wall Street record as traders are pumped up by strong corporate results and expectations of fresh stimulus. After a slight stumble Tuesday and Wednesday caused by profit-taking, the equities rally resumed with Tokyo again leading the pack following a report that Japan is planning a new, giant stimulus programme.
Prime Minister Shinzo Abe is eyeing a package of at least 20 trillion Yen -- about double the size initially expected -- to kickstart the economy from years of slumber and light a fire under torpid inflation, Kyodo news agency said. The likelihood of more yen flooding financial markets sent the Currency tumbling, which in turn boosted stocks, particularly exporters who benefit from a weaker unit.