Prospects for a fresh US stimulus package appeared to brighten following Trump’s departure from the US military hospital. Mr Trump returned to the White House on Monday after a three-night hospital stay and said he felt “real good”, though one of his doctors cautioned that he may not be out of the woods yet.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.71 percent to a two week-high, led by Hong Kong. HSI climbed 0.88 percent Japan’s Nikkei .N225 also added 0.41 percent.
As well as Trump’s health, “there is also some market attention on whether the US Congress will pass the extra stimulus bill,” said Tai Hui, Chief Asia Market Strategist, J.P. Morgan Asset Management.
“If we do see some form of stimulus coming through, I think the market will take it in a positive light as much of the important support from the previous round has expired,” he said.
S&P 500 futures ESc1 rose 0.08 percent after the best daily gain on the S&P 500 index .SPX in a month overnight. Oil held sharp overnight gains.
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7.15am update: Oil prices surge after Trump leaves hospital following coronavirus treatment
Oil prices have jumped significantly after US President Donald Trump left hospital following treatment for COVID-19.
Overall, oil increased five percent overnight and edged higher still in Asia.
The jump was also helped by a supply squeeze as a strike shut six Norwegian offshore oil and gas fields.
US crude last stood at $39.39 a barrel, up 0.43 percent and, Brent crude rose 0.48 percent to $41.49.