Stocks advanced Tuesday in Asia, with Japan’s Nikkei 225 index hitting a 30-year high after President Donald Trump signed a US$900 billion economic aid package. Wall Street set fresh records on Monday after Trump opted not to veto the bill, helping to staunch uncertainty as governments reimpose pandemic-fighting travel and business curbs weighing on global economic activity. In Tokyo, the Nikkei 225 jumped by 2.7 percent at 27,568.15, the first time it has traded above 27,000 since August 1990, according to FactSet. The market hit its all-time peak close of 38,915.87 on December 29, 1989. The benchmark was buoyed by strong gains in heavyweights like Mitsubishi Heavy Industries, which surged by 4.6 percent, apparel maker Fast Retailing, also up 4.6 percent, and technology and energy company SoftBank, which gained by 4.2 percent.-AP

Source: The Standard December 29, 2020 07:40 UTC