Asia stocks look up as global markets show confidence in economic growth

Asian stocks were poised for gains on Wednesday as global markets moved with confidence that vaccinations and additional monetary and fiscal support from governments will drive economic growth.

The day started with momentum from gains on Tuesday in U.S. and European stocks, gold, oil and U.S. Treasury yields. Optimism for a trade deal on Brexit contributed to a weaker dollar against the British pound and the euro.

“Tighter lockdowns will impact short-term economic activity but Brexit talks and the US aid package discussions remain alive providing a degree of longer-term optimism,” strategists at ANZ Research wrote.


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