Australia, NZ shares climb on hopes of massive U.S. stimulus [Reuters]
AUSTRALIA&N Z BKG S/ADR (ANZBY)
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en.wikipedia.org/wiki/australia
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Source: Reuters
Australia, NZ shares climb on hopes of massive U.S. stimulus * ASX benchmark sees best session since 2008 in early trade * Miners and financial stocks support benchmark * Australia’s flagship carrier Qantas surges up to 31.3% By Pranav A K March 25 (Reuters) - Australian shares rose sharply on Wednesday, tracking Wall Street gains on hopes U.S. lawmakers were moving closer to passing a massive stimulus package to curb the coronavirus outbreak’s economic impact. The benchmark S&P/ASX 200 index jumped 6.1% in early trade, its biggest percentage gain since 2008, but eased to trade 3.8% higher by midday. The benchmark climbed 4.2% on Tuesday. All three major U.S. stock averages soared over 8% on Tuesday as Washington appeared closer to passing a $2 trillion economic rescue package, providing a shot of optimism to markets. “We have seen enormous stimulus unleashed globally and while it cannot stop the economic slump, it does provide a safety net going forward,” ANZ said in a note. Mining s
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