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Brazilian stocks closed at a record high Wednesday, hours before the vote, on optimism that the bill would pass the first round.

Both the industrial and service sectors posted robust tax revenue growth, up 14.7 percent and 13.2 percent year on year respectively in H1 and maintaining double-digit growth for six quarters.

Britain and China also agreed to speed up the final preparations for the London-Shanghai Stock Connect program. The long-awaited scheme will mean investors in each country will be able to trade shares listed on each other's stock exchange. The scheme has been delayed by the United Kingdom's decision to leave the European Union.

Both the Chinese and the Russian governments are simultaneously working in this direction to facilitate the increasing implementation of the joint projects and boost supply volumes, he said.

Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management, told CNBC, "Fiscal stimulus is the antidote that can bridge the gap between what was happening before the coronavirus and what will happen after it. It certainly can't cure the virus, but it can help contain some of the economic fallout. Today's trading activity is the market trying to gauge whether the stimulus is going to be sufficient."