Stock markets in the Asia-Pacific region rallied and the dollar weakened, as lawmakers in Washington and the Trump administration reached an agreement on an estimated $2 trillion stimulus package to limit the economic damage of the coronavirus pandemic.

Shares in Asia had risen earlier on Wednesday, following a surge in U.S. indexes the previous day that came as hopes built for a deal in Washington. They extended those gains in the early afternoon in Hong Kong, after the White House said an agreement had been struck.