Media reports had suggested the trip would begin as soon as Sunday and last two days
Investors in Asian markets were poised for gains on Wednesday after Wall Street indexes rose on the back of U.S. Treasury Secretary nominee Janet Yellen’s push for a sizable fiscal relief package in response to the COVID-19 pandemic.
“We’ve sort of seen a positivity evident last night in Wall Street already in Asian trade on Tuesday,” said Kyle Rodda, a markets analyst at IG Markets, who noted Asian markets are following U.S. stimulus developments more than anything else.
“The gains are modest,” he added.
Australia’s ASX 200 rose more than 0.5 per cent in early trade Wednesday.
MSCI’s gauge of stocks across the globe gained 0.03 per cent .
Japan’s Nikkei 225 futures added 0.07 per cent , but Hong Kong’s Hang Seng index futures lost 0.29 per cent .
At Yellen’s confirmation hearing on Tuesday, she said the benefits of a big stimulus package are greater than the expenses of a higher debt burden.
President-elect Joe Biden, who will be sworn into office on Wednesday, last week laid out a $1.9 trillion stimulus package proposal to boost the economy and speed up the distribution of vaccines.
On Wall Street, the Dow Jones Industrial Average rose 0.38 per cent , while the S&P 500 gained 0.81 per cent . The tech-heavy Nasdaq Composite added 1.53 per cent .
The dollar dropped for a second straight session on Tuesday with investors turning their focus to riskier assets.
US treasuries fell after Yellen said during her hearing that 2017 tax cuts for corporations should be rolled back.
Oil prices rose on Tuesday on hopes that Biden’s proposed stimulus will lift economic output, while gold also firmed.
Media reports had suggested the trip would begin as soon as Sunday and last two days
Visitors can enjoy movies with family favourites, including ‘The Jungle Book’, ‘Jumanji’ and ‘Zootopia’ to match the wild theme every evening from 8pm
Sheikh Mohamed conveyed his congratulations to all eight honourees, recognising their inspiring efforts and significant contributions in service to society
His father thanked everyone who participated in the search mission despite the challenges posed by flooding in various parts of the emirate
It will be humid by night and Sunday morning with a probability of mist formation over some coastal and internal areas
Nearly 6,000 volunteers linked to a single support group are working tirelessly across the country to help those affected
Real estate developer MAG pledges to cover all the costs of necessary repairs for affected residents
The substantial increase in charges left many residents financially burdened, as they strive to retrieve their stranded vehicles