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Asian Markets Mixed After Biden Unveils Stimulus Plan

(RTTNews) - Asian stock markets are mixed on Friday after U.S. President-elect Joe Biden revealed details of a $1.9 trillion stimulus proposal, called the American Rescue Plan, to support American households and businesses amid the pandemic.

Worries about rising U.S.-China tensions weighed on the markets after the Trump administration placed Chinese smartphone maker Xiaomi on a blacklist of companies with alleged ties to the Chinese military.

The Australian market is extending gains from the previous session.

The benchmark S&P/ASX 200 Index is adding 11.70 points or 0.17 percent to 6,727.00, after touching a high of 6,744.00. The broader All Ordinaries Index is up 11.30 points or 0.16 percent to 6,994.00. Australian shares closed higher on Thursday ahead of U.S. stimulus unveiling.

Among the major miners, BHP Group is rising more than 2 percent and Rio Tinto is adding almost 1 percent, while Fortescue Metals is down 0.3 percent.
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