Monday 30 March 2020
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business-standard - 4 days ago

Asia markets mostly up after senate passes huge stimulus

Asian markets mostly rose Thursday as investors breathed a sigh of relief that US senators have finally passed a gargantuan stimulus package for the world s top economy after being delayed by wrangling over details. The unprecedented $2 trillion plan -- described by Senate Majority Leader Mitch McConnell as a wartime level of investment -- helped spur a surge across global equities as panicked traders worried about the impact of the coronavirus sweeping the planet. But another advance on Wall Street was blunted Wednesday as it emerged that four Republican senators have baulked at the generous provisions agreed to in the bipartisan deal with the White House. The bill eventually cleared the Senate by an overwhelming majority and will now head to the House of Representatives before going to President Donald Trump for his signature. The monster deal thrashed out between Republicans, Democrats and the White House includes cash payments to American taxpayers and several hundred billion ...

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