Asia shares up on multi-trillion dollar stimulus hopes

Sun Online Desk

27th March, 2020 02:56:25 printer

Asia shares up on multi-trillion dollar stimulus hopes

Shares in Asia have continued a global stock market rally on hopes global authorities will do more to combat the impact of the coronavirus.

On Thursday, top US share indexes capped their best three-day gains since the Great Depression.

It comes as investors expect the US Congress to pass a massive stimulus package by the end of Saturday.

The Group of 20 (G20) major economies has also pledged to inject over $5 trillion into the global economy, reports BBC.

Japan's benchmark Nikkei 225 gained 1.6%, the Hang Seng in Hong Kong was up by 1.6% and China's Shanghai Composite rose 1%.

That followed the Dow Jones Industrial Average and S&P 500 both climbing more than 6% on Wall Street, capping their best three-day streaks since the Great Depression of the 1930s. The tech-heavy Nasdaq ended higher for a second day, up 5.6%.