SHANGHAI: Asian stocks scaled to record highs on Thursday as investors were hopeful the incoming Biden administration will be able to secure passage of a massive new stimulus package to cushion the economic damage of the COVID-19 pandemic.
Kay Van-Petersen, global macro strategist at Saxo Capital Markets, said that Democratic control of the Senate"increases not just the probability of more fiscal , but the magnitude." Tech shares stood out after Netflix Inc said it would no longer need to borrow billions of dollars to finance its TV shows and movies, prompting a near 17per cent surge in its shares.
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