Japan's benchmark Nikkei 225 gained nearly 0.5% in morning trading to 28,767.43. Australia's S&P/ASX200 added 0.4% to 6,829.60. South Korea's Kospi gained 1.4% to 3,183.52. Hong Kong's Hang Seng jumped 1.6% to 29,927.31, while the Shanghai Composite gained 0.4% to 3,619.25.
"But increasing global COVID19 infections, new variants of the virus, tightening social distancing restrictions and delays in vaccine rollouts in some places, all increase the near-term growth risks."The S&P 500 slipped 0.3% to 3,841.47, snapping a three-day winning streak. It notched a 1.9% gain for the week. The index was coming off two straight all-time highs. The Dow Jones Industrial Average dropped 0.6% to 30,996.98. The Nasdaq inched up 0.1% to 13,543.06, another record high.
U.S. President Joe Biden has proposed a US$1.9 trillion plan to send $1,400 to most Americans and deliver other stimulus for the economy. But his party holds only the slimmest possible majority in the Senate, raising doubts about how much can be approved. Several Republicans have already voiced opposition to parts of the plan.
The U.S. economy has also been taking hits recently, with reports showing weakness in the job market and falling confidence among shoppers. But the data has been mixed.
Source: News Formal (newsformal.com)