Japan Vaults 8% on U.S. Coronavirus Deal

Stocks in Asia Pacific soared on Wednesday after a massive coronavirus stimulus bill was struck between the White House and Senate stateside.

In Japan, the Nikkei 225 index kept its win streak going, racing ahead 1,454.28, or 8%, to 19.546.63, as shares of index heavyweight Fast Retailing gained 8.8%.

The Japanese yen traded at 111.24 after touching an earlier low of 111.56.

In Hong Kong, the Hang Seng Index hiked 863.70 points, or 3.8%, to 23,527.19,

Australian markets hopped, as the sectors mostly rose, with the heavily weighted financial subindex gaining 8.7% as shares of major banks advanced.

The Australian dollar changed hands at $0.6037 after seeing levels below $0.58 earlier this week.

The moves in the region came as the White House and Senate reached a deal on a gigantic $2-trillion coronavirus stimulus bill early Wednesday stateside.

In other markets

The CSI 300 jumped 97.41 points, or 2.7%, to 3,722.52

In Korea, the Kospi index added 94.79 points, or 5.9%, to 1,704.76

In Taiwan, the Taiex prospered 395.13 points, or 3.9%, to 9,644.75

In Singapore, the Straits Times Index popped 143.42 points, or 6.1%, to 2,505.47

In New Zealand, the NZX 50 spiked 155.23 points, or 1.7 %, to 9,264.38

In Australia, the ASX 200 climbed 262.41 points, or 5.5%, to 4,998.07