Asian stocks hit record high, as earnings, stimulus boost recovery hopes

TOKYO/NEW YORK: Asian stocks hit a record high on Wednesday, as upbeat earnings, hopes of a large U.S. fiscal stimulus and progress in vaccinations fanned optimism about a global recovery from the pandemic.

Corporate earnings have been beating expectations in many places including the United States and Japan. On Wall Street, major stock indexes closed little changed on Tuesday, though the tech-heavy Nasdaq Composite eked out a record high on a gain of 0.14per cent. The S&P 500 lost 0.11per cent. In the currency market, the dollar traded near two-week lows against a basket of currencies after sizable fall in the previous trade.

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