Asian Stocks and US Futures Advance After Biden Speech | national
By ELAINE KURTENBACH AP Business Writer
Asian stocks rose Thursday and the future of the United States was also higher after President Joe Biden gave a speech to Congress in which ambitious plans to create jobs created spending on preschool, child care children and other public services.
Shares rose in Hong Kong, Shanghai, Seoul and Sydney. Bond yields remained stable while oil prices rose.
Wall Street benchmarks slid Wednesday after the Federal Reserve said he was leaving its key rate unchanged near zero, while noting the recent improvement in the economy.
In his Wednesday night speech, the president ticked off details of some of his $ 1.8 trillion spending plans to expand preschool, create a national family and medical leave program, distribute child care grants. children and more.
The plan comes on top of his $ 2.3 trillion spending proposal to rebuild roads and bridges, expand broadband access, and launch other infrastructure projects.
In Asian trade, Japanese markets have been closed for holidays. The Hong Kong Hang Seng rose 0.6% to 29,231.73 and the Shanghai Composite Index 0.2% to 3,463.10. In Seoul, the Kospi gained 0.2% to 3,186.28. The Australian S & P / ASX 200 added 0.4% to 7,090.10.