SINGAPORE — Shares in Asia-Pacific edged higher in Friday morning trade as investors regionally react to the release of U.S. President-elect Joe Biden’s $1.9 trillion coronavirus rescue package.
In Japan, the Nikkei 225 gained 0.17% while the Topix index dipped 0.1%. South Korea’s Kospi advanced 0.9%.
Meanwhile, shares in Australia were higher, with the S&P/ASX 200 up 0.17%.
MSCI’s broadest index of Asia-Pacific shares traded 0.18% higher.
Hong Kong-listed shares of CNOOC will be monitored by investors on Friday. The U.S. Commerce Department announced Thursday it had added the firm to its entity list, which essentially restricts firms from receiving specific goods made in the U.S.
Biden’s Covid relief plan
U.S. President-elect Joe Biden on Thursday revealed details of a $1.9 trillion coronavirus rescue package.
Biden’s proposal, called the American Rescue Plan, includes some familiar stimulus measures in the hope of sustaining families and companies till vaccines are widely distributed. Some of the proposed measures include stimulus checks as well as unemployment support.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.239 following levels above 90.4 seen earlier.
The Japanese yen traded at 103.77 per dollar, stronger than levels above 104 against the greenback seen earlier this week. The Australian dollar changed hands at $0.7778, having seen levels below $0.77 earlier in the trading week.
What’s on tap:
- South Korea: Bank of Korea interest rate decision at 9:00 a.m. HK/SIN
— CNBC’s Tom Franck contributed to this report.
Source: CNBC