AFP, Hong Kong :
Asian investors struggled to take the baton from their Wall Street counterparts Wednesday, though tech firms tracked another record on the Nasdaq, boosted by people staying at home.
Traders were also keeping an eye on Washington after Treasury Secretary Steven Mnuchin said he would reach out to the Democrats to work on pushing through a new stimulus package for the beleaguered US economy. While the wall of cash and central bank pledges of ultra-low interest rates for some time has been key to firing a surge across equities, global titans such as Apple, Samsung and Microsoft are miles ahead of the pack.
“The big theme right now is the unrelenting, record-breaking rally in tech stocks,” Candice Bangsund, at Fiera Capital Corp, said as the Nasdaq notched up a third straight record having rocketed a mind-boggling 80 percent from its March trough.
However, she added: “The landscape for stocks is great but there’s still, from a macro perspective, a lot of unknowns as to the progression of the virus and, of course, the implications for global growth.”
