Asian markets struggle after Biden unveils huge stimulus plan

A man walks past at an electronic stock board showing Japan's Nikkei 225 and other Asian indexes at a securities firm in Tokyo Friday, Jan. 15, 2021. Asian shares fell Friday after a worse-than-expected U.S. jobs report and a late slide in several Big Tech stocks left major indexes lower on Wall Street. - AP

HONG KONG, Jan 15, 2021 (AFP): Joe Biden's US$1.9 trillion stimulus proposal was met with a shrug in Asia Friday as observers said the massive spending spree had been largely factored into valuations, while profit-taking weighed on markets at the end of a broadly healthy week.

Reassurances from Federal Reserve boss Jerome Powell that record-low interest rates and loose monetary policy would remain in place for some time removed some lingering angst on trading floors, while there remains plenty of optimism about the long-term economic outlook.