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Most Asian markets rise on US stimulus hope

Published : Tuesday, 20 October, 2020 at 12:00 AM  Count : 78

HONG KONG, Oct 19: Most Asian markets rose Monday on lingering hopes for a new US stimulus package, though Shanghai turned lower after data showed China's economy grew at a slower pace than expected.
With a little over two weeks until the November 3 elections, time is running out for US lawmakers to reach an agreement on much-needed coronavirus support, but talks remain bogged down.
At the weekend House Speaker Nancy Pelosi set a Tuesday deadline for a pact to be hammered out, while Donald Trump urged his Republican Party to offer more than the $1.8 trillion they have put forward, adding that he would be willing to go higher than the Democrats' $2.2 trillion proposal.
The president said Sunday he wanted "a bigger number" than Pelosi: "That doesn't mean all the Republicans agree with me but I think they will in the end."
That came a day after he said he "could quickly convince" his party to back a "good" deal.
"If you said a trillion-eight, if you said two trillion, if you said two trillion-two -- many numbers -- I'm willing to go higher than that," he told a Milwaukee-based TV station.
"I will take care of that problem in two minutes."
Pelosi and Treasury Secretary Steven Mnuchin held talks over the weekend and plan more on Monday.
Analysts said, however, that expectations are high that even if nothing is agreed before the vote, lawmakers will eventually pass a new rescue bill.   -AFP

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