Asian shares hit two-week high as Trump regains health

Asian stock markets had seen a two-week high on Monday following U.S. President Donald Trump’s recovery from the coronavirus. The president’s dismissal from hospital and encouraging news about U.S. stimulus talks had supported investors’ upbeat sentiment.

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.71%, hitting a two-week peak. The jump could be attributed to a 0.88% gain recorded by Hong Kong’s Hang Seng index. Meanwhile, Japan’s benchmark index Nikkei gained 0.41%.

While Australia’s ASX 200 gained 0.17%, it remained weak ahead of a central bank meeting and the government’s budget disclosure later on Tuesday. Moreover, financial markets in China were still closed for a holiday.

After a three-night hospital stay, Trump had finally returned to the White House on Monday. While he said that he’s feeling a lot better now, one of his doctors cautioned that he may not be out of the woods yet.