SYDNEY - Asian shares started cautiously on Monday as central bank largesse globally boosted sentiment but rising trade tensions between the world’s two biggest economies dulled risk appetite.
Japan’s Nikkei jumped 1.5% after the Nikkei newspaper reported the country was considering a fresh stimulus package worth over $929 billion that will consist mostly of financial aid programmes for companies hit by the coronavirus pandemic.“Nevertheless, focus is likely to be on China’s National People’s Congress, as discussions of political and economic policies continue,” ANZ analysts wrote in a note.
The proposal drew the ire of Hong Kong residents who defied social distancing rules and protested on streets while the United States warned Beijing’s move could lead to U.S. sanctions. The two superpowers have also clashed over Hong Kong, human rights, trade and U.S. support for Chinese-claimed Taiwan.
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