Trump effect: Asian markets climb after the Dow Jones passes 20 thousand points
Slight growth in Hong Kong, Shanghai, Shenzhen, Tokyo and Seoul. For the first time the Dow Jones reaches 20,068.09 points. Trump’s promises of infrastructure and taxes boost optimism, as well as appointments of people from economic and business world.
Hong Kong (AsiaNews) - By mid-day Asian stock markets had made strong gains. Analysts believe that the Trump effect has rippled over to Asia following the New York Stock Exchange surge past 20 thousand points for the first time yesterday (see photo).
The Hong Kong stock market rose 1.37%, the highest increase in three months; the Shanghai and the Shenzhen market, trading on their last day before closing for the Chinese New Year, are at 0.13 and 0.54, respectively. Other Asian markets see Tokyo with a positive gain of 1.58%; Seoul with over 0.98.
Yesterday, the Dow Jones Industrial Average closed with more than 20 thousand points, at 20,068.09. Analysts speak of optimism because of the first steps of Donald Trump. In these first days after his oath of office, the new president has signed several executive orders to reduce taxes on US manufacturing and to kick off the construction – highly controversial - of two oil pipelines.
Trump also promised to launch infrastructure projects and push industries to produce in the United States. In addition, he has appointed many personalities from the economic and commercial world to government offices.
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