Asia trades mostly lower as US passes aid bill

Monday, 08. March 2021 07:31

Equities on major stock markets in the Asia-Pacific region traded mostly lower on Monday after the United States Senate voted to pass US President Joe Biden's rescue plan worth $1.9 trillion. The stimulus package is set "to meet the most urgent needs of the nation and put us in a better position to prevail," according to Biden.

Meanwhile, the US State Departments announced that the Biden administration reached an agreement with South Korea on a cost-sharing deal for US troops based in that country.

The Nikkei 225 and the Kospi closed losing 0.42% and 0.95%, respectively, while the S&P/ASX 200 in Australia ticked 0.43% higher to end the session. The Hang Seng sank 1.29% at 7:30 am CET, the Shanghai Composite fell 1.80% and the Shenzhen Composite plummeted 3.09% at the same time. The dollar gained 0.06% against the yen to go for 108.41 at 7:29 am CET.

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Breaking the News / GA