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Asian stocks rise after US Fed promises economic support

WorldNews Tuesday, 24 March 2020 ()
Asian stocks rise after US Fed promises economic supportBEIJING (AP) — Asian stock markets gained Tuesday after the U.S. Federal Reserve promised support to the struggling economy as Congress delayed action on a $2 trillion coronavirus aid package. Market benchmarks in Tokyo and South Korea rose nearly 6% while Shanghai, Hong Kong and Australian markets also gained. Traders were encouraged by the Fed's promise to buy as many Treasurys and other assets as needed to keep financial markets functioning. That came as Wall Street fell 3% after Congress failed to approve an economic support package. It would send checks to U.S. households and offer support for small businesses and the hard-hit travel industry, but Democrats say it favors companies too...
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