Asian markets were set to rise on Thursday after U.S. stocks closed at record highs on hopes that newly inaugurated U.S. President Joe Biden would put in place further economic stimulus to offset damage wreaked by the COVID-19 pandemic.
"Asian stocks are primed to follow their U.S. peers higher on optimism that U.S. federal spending will revive growth and corporate earnings," said Ryan Felsman, a senior economist at CommSec in Sydney."That's all pointing to a positive day in Asia."The Biden administration is expected to push through a nearly US$2 trillion U.S. fiscal stimulus plan.
Along with Netflix, the rest of the FAANG group, scheduled to report results in the coming weeks, jumped. Google parent Alphabet Inc rose 5.36per cent.Advertisement