Japans Nikkei Surges to Levels not Seen Since Early 1990s

Stocks in AsiaPacific were mixed on Tuesday following overnight gains on Wall Street that sent the major averages to record highs. In Japan, the Nikkei 225 led gains among the regions major markets as it soared 2.66 on the day to 27,568.15 a level not seen since August 1990, according to data from Refinitiv. Shares of index heavyweight Fast Retailing and conglomerate Softbank Group gained 4.5 and 4.53, respectively. The Topix index advanced 1.74 to finish its trading day at 1,819.18.

South Koreas Kospi closed 0.42 higher at 2,820.51. Mainland Chinese stocks were lower by their close, with the Shanghai composite down 0.54 to 3,379.04 while the Shenzhen component dipped 0.526 to 13,970.21. Hong Kongs Hang Seng index gained about 0.9, as of its final hour of trading. Shares in Australia rose following their return from a Monday holiday, with the SPASX 200 up 0.53 to close at 6,700.30.

MSCIs broadest index of AsiaPacific shares outside Japan gained 0.44. Overnight on Wall Street, the Dow Jones Industrial Average gained 0.7 to close at 30,403.97. The SP 500 rose 0.9 to finish its trading day at 3,735.36 while the Nasdaq Composite closed 0.7 higher at 12,899.42.

The gains stateside came after U.S. President Donald Trump signed a 900 billion coronavirus relief package into law, with the measure including a direct payment of 600 to most Americans. Trump had previously demanded a 2,000 direct payment days before the signing. The House voted Monday to increase the second round…

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