By Swati Pandey
SYDNEY, Oct 8 (Reuters) – A gauge of Asian shares climbed to a one-month high on Thursday, as renewed hopes for more U.S. stimulus helped restore investor confidence with markets now pricing in a Democratic victory during elections in November.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.3% for its fourth straight session of gains to a level not seen since early September.
Australia’s benchmark index .AXJO jumped 1.1% to a one-month high helped by a larger-than-expected fiscal stimulus announced in federal budget on Tuesday night.
New Zealand shares .NZ50 rallied on expectations of further monetary policy easing after the country’s central bank said it was “actively considering” negative interest rates and a funding-for-lending programme.
Japan’s Nikkei .N225 added 0.5%.
Globally, risk assets have rallied since mid-March on a flood of central bank and government support for economies reeling from coronavirus-induced lockdowns world