European shares gain, Asian shares mix as investors await Joe Biden’s stimulus plan

Gulf Today Report 

European shares gain on Thursday on high hopes for US President-elect Joe Biden’s stimulus and gains in Chinese export. 

The pan-European STOXX 600 index rose 0.3% while Germany's DAX index was up 0.3%. London's FTSE 100 index gained 0.1%.

According to a report, Biden is likely to spend $2 trillion in stimulus, it is more than the market expectations. 

The pandemic disruptions have boosted demand for Chinese goods, according to data, Chinese exports grew beyond expectations. 

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Asian shares 

Asian shares remain mixed on Thursday as investors wait for details of US President-elect Joe Biden’s plan to help the economy recover from the pandemic. 

Benchmarks rose in Hong Kong, Tokyo and Sydney but fell in Shanghai. 

Tokyo's Nikkei 225 index climbed 1.7% to 28,828.10 after a report showed strong growth in machinery orders in December, suggesting robust corporate spending despite a marked worsening of the pandemic. 

The Hang Seng in Hong Kong gained 0.5% to 28,375.25. South Korea's Kospi edged 0.1% lower to 3,142.57. In Australia, the S&P/ASX 200 rose 0.4% to 6,713.30. 

The Shanghai Composite index dropped 0.3% to 3,588.28. 

In the US, representatives have voted to impeach President Donald Trump on “incitement of insurrection.” That has made US futures trade higher. 

However, Investors are not focusing on the turmoil, instead, they are keeping an eye on a stronger economy ahead.