Asian markets upbeat on stimulus hopes ahead of Biden's inauguration

Singapore

ASIAN markets mostly rose on Wednesday, just before the inauguration of Joe Biden as US President, as investors looked with optimism towards the stimulus that could follow, but analysts noted that US-China tensions may not go away.

Last week, Mr Biden unveiled a US$1.9 trillion stimulus package proposal, and on Tuesday, his nominee for Treasury Secretary, Janet Yellen, urged lawmakers during her Senate confirmation hearing to "act big" on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden.