Asian markets slip after rally on Biden inauguration
Hopes of $1.9-trillion US fiscal stimulus plan drive S&P 500 and Nasdaq Composite to record highs
22 January 2021 - 07:47
Sydney — Asian shares eased from record highs on Friday as investors took some money off the table after a recent rally that was driven by hopes a huge US economic stimulus plan by incoming President Joe Biden will help temper the Covid-19 impact.
“The markets had such a strong run yesterday after the presidential inauguration in the US and the run-up to that, that the lead coming in from the US is a bit messy,” said Shane Oliver, chief economist at investment manager AMP Capital in Sydney...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.