AIRLINK 63.43 Increased By ▲ 0.23 (0.36%)
BOP 5.46 Increased By ▲ 0.06 (1.11%)
CNERGY 4.68 Increased By ▲ 0.11 (2.41%)
DFML 19.02 Decreased By ▼ -0.71 (-3.6%)
DGKC 70.29 Increased By ▲ 1.29 (1.87%)
FCCL 19.12 Increased By ▲ 0.87 (4.77%)
FFBL 30.86 Increased By ▲ 1.47 (5%)
FFL 9.58 Increased By ▲ 0.27 (2.9%)
GGL 10.16 No Change ▼ 0.00 (0%)
HBL 109.20 Decreased By ▼ -0.86 (-0.78%)
HUBC 127.70 Increased By ▲ 1.69 (1.34%)
HUMNL 6.85 Increased By ▲ 0.12 (1.78%)
KEL 4.39 Decreased By ▼ -0.08 (-1.79%)
KOSM 4.43 Decreased By ▼ -0.02 (-0.45%)
MLCF 37.39 Increased By ▲ 0.79 (2.16%)
OGDC 128.50 Increased By ▲ 0.20 (0.16%)
PAEL 22.80 Decreased By ▼ -0.39 (-1.68%)
PIAA 26.50 Increased By ▲ 0.30 (1.15%)
PIBTL 6.19 Increased By ▲ 0.19 (3.17%)
PPL 112.52 Decreased By ▼ -0.28 (-0.25%)
PRL 26.85 Decreased By ▼ -0.30 (-1.1%)
PTC 16.75 Decreased By ▼ -0.34 (-1.99%)
SEARL 60.72 Decreased By ▼ -1.37 (-2.21%)
SNGP 65.35 Increased By ▲ 1.40 (2.19%)
SSGC 11.05 Increased By ▲ 0.02 (0.18%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TPLP 11.28 Increased By ▲ 0.28 (2.55%)
TRG 69.85 Decreased By ▼ -1.10 (-1.55%)
UNITY 23.65 Decreased By ▼ -0.30 (-1.25%)
WTL 1.31 Decreased By ▼ -0.07 (-5.07%)
BR100 7,280 Increased By 64.2 (0.89%)
BR30 23,637 Increased By 105.1 (0.45%)
KSE100 70,315 Increased By 694.7 (1%)
KSE30 23,132 Increased By 221.5 (0.97%)
Markets

Global shares edge up on news Trump signs aid bill

  • Bitcoin extended gains over the weekend to reach a new high of $28,377.94 before stepping back to $26,457.32, bringing the total value of the cryptocurrency in circulation to over $500 billion.
Published December 28, 2020

TOKYO: Global shares ticked up on Monday as a source said US President Donald Trump signed into law a $2.3 trillion pandemic aid and spending package he had until now refused to sign. US S&P futures last traded up 0.4%.

The futures had earlier reversed losses after a cryptic tweet by Trump - "Good news on Covid Relief Bill. Information to follow" - helped offset worries about further delay in stimulus spendings.

A source later said he had approved the bill.

Japan's Nikkei inched up 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2%, though trade is slow with many markets still closed for holiday.

"It is positive for markets that we no longer have a chaos over stimulus, considering there was a chance of a partial government shutdown," said Masahiro Ichikawa, chief strategist at Sumitomo Mitsui DS Asset Management.

"But on the other hand, markets have talked about that stimulus for a long time and I would say most of it has been already priced in."

Trump had refused to sign into law the pandemic aid and spending package that the Congress has passed, demanding stimulus checks for struggling Americans be increased.

Trump's threat to not sign the package had already shuttered an emergency unemployment aid programme and threatened a partial federal government shutdown at midnight on Monday.

US bond yields edged up in its first trade after Christmas, with the 10-year US Treasuries yield up 0.6 basis point at 0.930%.

The rollouts of COVID-19 vaccines are also bolstering hopes of more economic normalisation next year, with Europe launching a mass vaccination drive on Sunday.

That offset alarms over a new highly infectious variant of the virus that has been raging in the south-east of England and was confirmed in many other countries, including Japan, France and Canada, over the weekend. Major currencies were little changed.

The euro traded at $1.2204, a tad below its 2-1/2-year high of $1.22735, while the yen changed hands at 103.56 per dollar.

The British pound changed hands at $1.3565, not far from a 2-1/2-year high of $1.3625 hit earlier this month after Britain and the European Union reached an agreement on trade framework after Brexit.

Bitcoin extended gains over the weekend to reach a new high of $28,377.94 before stepping back to $26,457.32, bringing the total value of the cryptocurrency in circulation to over $500 billion.

Oil prices edged down a tad, with US crude futures down 0.8% at $47.85 per barrel.

Comments

Comments are closed.