Asian Markets Surge on Hopes of New US Financial Rescue Package

Asian markets rebounded Wednesday as the chances of a deal over a new pandemic financial rescue package in Washington appeared to be improving.

The Nikkei index in Tokyo finished 0.2% higher. Sydney’s S&P/ASX index rose 0.7%. Hong Kong’s Hang Seng index closed up 0.8%. The KOSPI index in Seoul gained 0.5%, and Taipei’s TSEC index closed 1.6% higher.

Singapore’s Composite index lost a quarter of one percent, but was unchanged percentage-wise (-0.01%). Mumbai’s Sensex is up 0.8% in late afternoon trading.

In commodities trading, gold is selling at $1,858.30 per ounce, up 0.1%. U.S. crude oil is selling at $47.60 per barrel, while Brent crude oil is selling at $50.74 per barrel, both unchanged percentage-wise (-0.04%).

All three major U.S. indices are trending positively in futures trading.