Biden stimulus plan cheers Asian investors

Recap: Most Asian markets advanced yesterday on optimism about US President-elect Joe Biden’s much-anticipated $1.9-trillion fiscal stimulus plan, even as Wall Street retreated. European stocks dropped as investors took profits after solid gains. Tokyo also fell as investors locked in gains after the Nikkei rose for five straight trading days to a fresh 30-year high.

The SET index moved in a range of 1,513.48 and 1,561.66 points this week before closing yesterday at 1,519.13, down 1.1% from the previous week, in turnover averaging 97.86 billion baht daily.

Retail investors were net buyers of 8.4 billion baht, foreign investors purchased 2.08 billion and brokers bought 666.03 million baht worth of shares. Institutional investors were net sellers of 11.14 billion baht.

Newsmakers: The Trump administration yesterday blacklisted the Chinese smartphone manufacturer…