· Asian shares bounce on hopes for U.S. stimulus, vaccine
Asian shares rose on Wednesday after a strong lead from Wall Street fuelled by hopes for additional U.S. economic stimulus and a coronavirus vaccine, but trade was choppy as some investors booked profits.
Top U.S. Senate Republican Mitch McConnell said on Tuesday that Congress should include new coronavirus stimulus in a $1.4 trillion spending bill aimed at heading off a government shutdown in the midst of the pandemic.
U.S. President-elect Joe Biden told the New York Times his priority is getting a generous aid package through Congress even before he takes office in January.
Top U.S. health officials, meanwhile, announced plans to begin vaccinating Americans against the coronavirus as early as mid-December once regulatory approvals are in place, as nationwide deaths hit the highest number for a single day in six months.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.27%, but was still trading below last week’s all-time high. Australian stocks rose 0.12%.
MSCI’s gauge of stocks across the globe rose 0.07% in Asia on Wednesday, edging toward an all-time high.
· Japan shares extend rally, end at 29-1/2-year high on U.S. stimulus, vaccine hopes
Japan’s Nikkei share average closed at a 29-1/2-year high on Wednesday, buoyed by hopes of a U.S. stimulus package and progress in a COVID-19 vaccine, but gains were capped by some profit-taking after a strong November rally.
Nikkei ended up 0.05% at 26,800.98, its highest closing since April 1991, extending its bull run after U.S. elections. The broader Topix rose 0.32% to 1,773.97, edging near a two-year peak touched last Friday.
Sentiment was also fuelled as U.S. politicians put forth a flurry of proposals on coronavirus relief packages after a month-long partisan standoff.
· China shares end flat as healthcare losses offset gains in property stocks
China stocks erased earlier gains to end nearly flat on Wednesday, with gains in property stocks offset by losses in healthcare, as investors took a breather following a recent rally on upbeat data pointing to a continued economic recovery.
At the close, the Shanghai Composite index was down 0.07% at 3,449.38.
The index hit its highest since February 2018 earlier in the session, as investors cheered better-than-expected manufacturing data and hopes of continued economic recovery.
China’s blue-chip CSI300 index ended flat, while the start-up board ChiNext Composite index was 0.57% lower. Shanghai’s tech-focused STAR50 index closed up 0.3%.
· European markets open lower, tracking mixed global sentiment
European stocks opened lower on Wednesday, with European markets tracking mixed sentiment in their U.S. and Asia-Pacific counterparts.
The pan-European Stoxx 600 fell 0.5% at the start of trading, autos shedding 1.3% to lead losses as all sectors and major bourses slid into negative territory.
The U.K. on Wendesday became the first country in the world to authorize the Pfizer/BioNTech coronavirus vaccine, making it available from next week.
Reference: Reuters, CNBC
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