There has been a lively and optimistic atmosphere in the markets today. It followed the renewed momentum of the Biden plan to modernize the US infrastructure and revive the economy. The Democrats and the Republicans signed the infrastructure agreement in the US. Markets welcomed the massive but also ambitious $1.2 billion investment package over the next eight years.
The news brought new gains to Wall Street, with Nasdaq and S&P 500 posting record levels. Asian equities followed the trend and settled with the majority of profits.
Global markets have been decidedly euphoric today. In Asia, Nikkei gained 0.66% or 190.95 points, to 29,066.18.
Hang Seng closed with a 1,4% increase. Meanwhile, the South Korean Kospi added 0.49%, and Taiwan climbed by 0.55%.
Nikkei advanced by 0.66% or 190.95 to settle at 29,066.18. Japanese stock exchange experienced a significant rise in steel and electronics stocks. Nippon Steel surged by 3.5%, TDK gained 2.6%, and Panasonic increased by 3.1%.
The Southeast Asian stock exchanges also ended with gains.
In Singapore, the city-state stock market rose by 1.98 points or 0.06%, and the Straits Times composite indicator stood at 3,121.60 units.
In Indonesia, the Jakarta stock climbed by 10.34 points, 0.17%, and the JCI index finished with 6,022.40 units.
Malaysia’s Kuala Lumpur Stock Exchange added 3.97 points, 0.26%, and the selective KLCI finished at 1,559.68 units.
In Thailand, the Bangkok stock fell by 3.05 points, 0.19%, and the SET index ended at 1,582.67 units.
In the Philippines, the Manila Stock Exchange rose by 64.51 integers, 0.94%, and the PSEi composite index ended at 6,950.51 points.
In Vietnam, the VN Index of the Ho Chi Minh stock closed with 1,390.12 units after adding 10.40 points or 0.75%.
European stocks trade mixed
European stocks are trading in a blended style on the last day of the week. The upbeat sentiment on Wall Street did not encourage highs in Europe.
At the time of writing, German Dax dropped by 0.084% or 13.05 points to 15,576.18. Meanwhile, Eurostoxx 50 lost 0.22% or 9.04 points to 4,113.39.
STOXX 600 has been having a volatile day. It started the day on the positive ground. However, the index posted a slight decline in the second half of the session. At the moment, STOXX 600 is trading with a drop of 0.031% or 0.14 points to 456.90.
The FTSE outperforms its European friends. More significant commodity costs combined with a dovish BoE coverage make the UK market a great place to speculate. At the time of writing, FTSE 100 is trading with an increase of 0.29% or 20.46 to 7,130.43.