Asian stock markets strengthened before Biden's inauguration

Asian stock markets strengthened before Biden's inauguration

Asian stock markets rose on Tuesday as the upcoming change of administration in the US raises hopes for further support for the economy and more aggressive measures to combat the coronavirus pandemic. US stock markets were not traded for a public holiday on Monday. According to analysts, the attention of the markets was focused on Wednesday's inauguration of Joe Biden and the beginning of the new US government. Last week, Biden proposed a $ 1.9 trillion aid package to US households, businesses and local communities to further support the production and distribution of vaccines. The Hang Seng Hong Kong Stock Exchange was the engine of growth in Asian markets, gaining 2.39 percent. Tokyo's main index, the Nikkei 225, rose 1.39 percent. However, China's Shanghai Composite stock index weakened 0.83 percent.