· Asian shares extend gains on recovery hopes, following stellar November
Asian share markets began the new month with a bang on Tuesday, buoyed by the prospect of a COVID-19 vaccine fueling a global economic recovery, buoyant Chinese factory activity and expectations of continuing fiscal and monetary support.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 1.08% after closing the month 9% higher, the best November since 2001.
MSCI’s gauge of stocks across the globe was 0.18% higher and E-Mini futures for the S&P 500 were up 0.9%.
· Nikkei ends near 29-1/2-year high on vaccine, stimulus hopes
Japan’s benchmark Nikkei closed near a 29-1/2-year high on Tuesday, tracking gains in U.S. stock futures over growing optimism that major drugmakers will roll out coronavirus vaccines before year-end.
The Nikkei 225 index ended up 1.34% at 26,787.54, near its highest level since April 1991, hit earlier in the session. The broader Topix rose 0.77% to 1,768.38.
Securities brokerages, non-ferrous metals and metal products led the advance on the main bourse.
Japanese stocks got off to a bright start after Moderna Inc said it had applied for U.S. emergency authorization for its COVID-19 vaccine. Moderna’s candidate is the second vaccine likely to win U.S. approval for a potential rollout this year.
In addition, Japan’s government has vowed to compile a stimulus package to help the economy mitigate short-term economic impacts from a recent rise in coronavirus infections.
· China blue-chips post biggest daily gain in 7 weeks on robust factory data
China's blue-chip stocks rose on Tuesday by their most in more than seven weeks, as better-than-expected manufacturing survey data underscored a continued recovery in the world's second-largest economy.
China's factory sector activity grew at its fastest pace in a decade in November, a business survey showed, as the economy rebounds to pre-pandemic levels.
At the close, the blue-chip CSI300 index was up 2.15%, its biggest daily rise since Oct. 12. The Shanghai Composite index rose 1.77% to 3,451.94.
The CSI300 financial sector sub-index rose 2.83%, the consumer staples sector added 1.52% and the healthcare sub-index jumped 3.17%.
· European markets open modestly higher, following global trend
European stocks opened slightly in positive territory on Tuesday, following a trend set by other global markets.
The pan-European Stoxx 600 gained 0.2% in early trade, autos climbing 0.9% to lead gains while financial services bucked the trend to edge 0.3% lower.
European markets are following the buoyant mood in their U.S. and Asia-Pacific counterparts; U.S. stock futures rose on Monday night after the major averages notched sharp monthly gains for November.
Reference: Reuters, CNBC
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