Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 21, 2021. Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street.
A screen shows a news report about U.S. President Joe Biden’s inauguration as a currency trader works at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 21, 2021.
A currency trader watches the screens showing the foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 21, 2021. Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street.
In this photo provided by the New York Stock Exchange, traders watch as the presidential inaugural plays on a screen, in a booth on the trading floor, Wednesday, Jan. 20, 2021. U.S. stocks are rallying to records Wednesday on encouraging earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.
In this photo provided by the New York Stock Exchange, a trader works in a booth on the trading floor, Wednesday, Jan. 20, 2021. U.S. stocks are rallying to records Wednesday on encouraging earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.
In this photo provided by the New York Stock Exchange, the presidential inaugural plays on a screen as trader Timothy Nick works in a booth on the trading floor, Wednesday, Jan. 20, 2021. U.S. stocks are rallying to records Wednesday on encouraging earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.
A screen shows a news report about U.S. President Joe Biden’s inauguration as a currency trader works at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 21, 2021.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 21, 2021. Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street.
TOKYO (AP) — Asian shares mostly rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street.
Hopes are high that President Joe Biden’s administration will mean more support for the struggling U.S. economy, starting a recovery that’s crucial for the export-driven Asian region.
Japan’s benchmark Nikkei 225 rose 0.8% to finish at 28,756.86. Australia’s S&P/ASX 200 gained 0.8% to 6,823.70, while South Korea’s Kospi edged up 1.1% to 3,147.51. Hong Kong’s Hang Seng slipped 0.3% to 29,887.89, while the Shanghai Composite added 1.0% to 3,619.82.
Data released by the Japanese Finance Ministry showed the world’s third largest economy may be crawling toward a recovery, as exports for December rose for the first time in two years, by 2% from the same month the previous year. Imports declined 11.6%, marking the 20th straight month of declines.
Japan’s economy, like many others across the region, has been slammed by the coronavirus pandemic, which has crushed tourism and dampened economic activity and trade. The Bank of Japan kept its easy monetary policy at its policy board meeting, as expected. Tokyo and other urban areas of Japan are under a state of emergency, as coronavirus cases have surged lately.
On Wall Street, the S&P 500 rose 1.4%, topping its previous all-time high set earlier this month. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also notched record highs, powered by gains in technology, communications, health care and most other sectors.
About the Author
